The Gazprom Neft Moscow Refinery has entered into a preliminary agreement with NIPIGazpererabotka (NIPIGAZ) to undertake extensive construction and installation works for the commissioning of the refinery’s Euro+ combined refining unit (CRU). Initial costs of these works are expected to be approximately $313 MM (excluding VAT), with final costs to be confirmed following presentation of full project documentation by NIPIGAZ as general contractor.

Construction of the Euro+ CRU represents a key project in the second phase of Gazprom Neft’s fullmodernization of the Moscow refinery. The Euro+ facility is intended for primary oil refining, for the production of high-octane Euro 5 fuels, and for the production of vacuum gasoil. The facility is expected to be commissioned in 2018.

Once fully operational, the Euro+ facility is expected to increase refining capacity at the Moscow refinery to 12 MMtpy. In addition to improving energy efficiency and workplace safety, the plant continues to reduce itsenvironmental emissions. Construction of the new facility will allow Gazprom Neft to decommission several obsolete installations and increase running time between repairs from two to four years, ensuring the further stabilization of the fuel market around the 

capital.

Russian enterprises and companies remain actively involved in the modernization of the Gazprom Neftrefinery. AEM-Technology, in particular (part of the machine-building division of state enterprise Rosatom), has already begun production of a major plant for the Euro+ facility.