|Samsung Engineering receives 1 billion Euro contract for its first petrochemical project in Russia||2022.02.09|
[Seoul, Korea] 9 February 2022 – Samsung Engineering, one of the world’s leading engineering, procurement, construction and project management (EPC&PM) companies, announced today, that it had signed on February 8th, a 1 billion Euro contract with China National Chemical Engineering & Construction Corporation Seven, Ltd. (CC7), a Chinese state-owned construction company, for the engineering and procurement (EP) for the Ethane Cracker in Gas to Chemicals Project in Russia. Baltic Chemical Complex LLC. (BCC), the original owner of the contract, previously signed an EPC contract with CC7 in 2019. The project is located at the Gulf of Finland near the seaport of Ust-Luga, Leningrad Oblast, 110 km southwest of St. Petersburg, Russia.
Samsung Engineering’s work of scope includes an Ethane Cracker Unit with a total design capacity of 2.8 million T/y (Ethylene 1.4 million t/y * 2 Trains) and procurement for the project. The Ethane Cracker Unit is the core process element of the plant. The Baltic Ethane Cracker Project produces ethylene from separated C2 out of natural gas.
Ethane Cracker in Gas to Chemicals Project marks a major milestone for Samsung Engineering with its first project in Russia. Samsung Engineering entering the Russian market is achieving further diversification in their overseas markets. Russia is an energy-rich country with the world's largest resource reserves, such as natural gas and oil, and is steadily placing orders for large-scale plant construction. As it is known as a market with high growth potential for the plant business in the future, Samsung Engineering plans to take this order as an opportunity to advance into the Russian market.
A Samsung Engineering spokesperson said: "Technology competitiveness and our abundant track record for similar projects in markets such as India, Saudi Arabia and Thailand became the stepping stone for winning the Ethane Cracker in Gas to Chemicals Project. Marking our first project in Russia, we will insure that we provide a state of the art design for this project.”