Russia

The Export Development Canada agency is to provide a $48 million loan to Russia’s Gazprombank to finance the purchase from Thermo Design Engineering Ltd., Edmonton, of Canadian-made systems that capture and process formerly flared gas.

By OGJ editors
HOUSTON, Mar. 2
– The Export Development Canada agency is to provide a $48 million loan to Russia’s Gazprombank to finance the purchase from Thermo Design Engineering Ltd., Edmonton, of Canadian-made systems that capture and process formerly flared gas.

The project operator, ObGasProcessing CJSC, is a subsidiary of Monolit LLC, member of the Roza Mira Group. TDE’s systems will allow the operator to capture gas at a production site in the Khanty-Mansiysk Autonomous Region.

Russian legislation requires elimination of flared gas at hydrocarbon production sites by Jan. 1, 2012.

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