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PhosAgro asking Gazprom for extra gas starting in 2015 for project in Cherepovets

9 February 2012

PhosAgro Holding has turned to Gazprom for an allocation of additional volumes of gas starting in 2015 for a project to construct a new ammonia plant in Cherepovets, PhosAgro CEO Maxim Volkov said in an interview with Interfax.

"If Gazprom approves it, we will build a new ammonia unit in Cherepovets, which will allow us to subsequently develop production capacities for diammonium phosphate and other fertilizers," he said. The new unit could produce roughly 2,200 tonnes of ammonia per day, he added.

PhosAgro estimates that this project will cost at least $500 million.

It could take around four years to build the ammonia unit, Volkov said. The company has already passed through the first stage of choosing licensors and has put together a short list.

PhosAgro had earlier discussed the possibility of building a large gas chemicals complex at the Cherepovets site. It was expected that Russian petrochemicals company Sibur could participate in the project.

Volkov said that PhosAgro is continuing its dialog with Sibur on possible participation in the project. "We hope that the issue of Sibur`s possible participation in the project will be resolved in the near future," he said.