Gazprom and Ferrostaal to work together to produce methanol
Germany's Ferrostaal, a unit of MAN, and Russia's Gazprom have announced the creation of a joint venture to produce
methanol. The joint venture was also co-founded by the Arkhangelsk sea merchant port.
The annual capacity of the joint venture is around 900,000 tons of methanol intended for export. Gas for methanol production will be delivered via the Nyuksenitsa-Arkhangelsk gas pipeline.
The estimated cost of the plant is $ 450 mm (540 mm euros), and the payback period will be six years.