19 Jun 2009 17:10

BASF, Itochu and Samsung show interest in developing gas facilities in Eastern Russia

MOSCOW. June 19 (Interfax) - Germany's BASF, Japan's Itochu and South Korea's Samsung have shown interest in developing gas refining and gas chemical capacity in Eastern Russia, the general director of OOO Gazprom Pererabotka, Yury Vazhenin, said in an interview with Gazprom's corporate magazine.

"It is necessary to attract foreign corporations to the construction of gas processing and gas chemical facilities through the organization of joint ventures. Our specialists have participated in negotiations with Germany's BASF, Japan's Itochu and South Korea's Samsung. All of them have shown interest in the development of refining capacity in Eastern Siberia and the Far East. However, contract signings are still a thing of the future," he said.

He added that there currently is no concise understanding about where these facilities would be located. "Two approaches are colliding in this issue, that can be characterized as political and economic. Supporters of the first side insist on the development of Eastern Siberian and the Far East through building major gas processing facilities. The economic approach indicates the same thing but focuses on those regions in Eastern Russia where there is already infrastructure and personnel potential," Vazhenin said.