Source: Ministry of Commerce October 17, 2019

On the evening of October 11, China Chemical Engineering Group Co., Ltd. (abbreviated as China Chemical) and Gazprom signed a FEED+EPC general contract for the Baltic Chemical Complex (BCC) project in Russia. The project is the largest ethylene integration project in the world, and it is also the project with the largest single contract value in the global petrochemical field. The contract value is about 12 billion euros.

It is understood that ethylene is one of the largest chemical products in the world. The ethylene industry is the core of the petrochemical industry. Ethylene products account for more than 75% of petrochemical products.

The Baltic Chemical Complex (BCC) project is one of the large-scale natural gas liquefaction and processing plant projects implemented by Russian Gazprom and Gazprom in Ustruga, Russia. According to the plan, the scale of the project is an annual output of 2.8 million tons of ethylene, 2.88 million tons of polyethylene and other petrochemical complexes, using the world's most advanced process technology.

The project was undertaken and specifically implemented by China National Chemical Engineering Seventh Construction Co., Ltd., a subsidiary of China Chemical. China Chemical Engineering Seventh Construction Co., Ltd. has more than ten years of engineering contracting experience in Russia and has good cooperative relations with many large oil and gas companies in Russia. During the construction of the project, Sinochem can provide more than 6,000 local jobs and provide technical and skill training for the employees. After the project is completed, more than 3,000 long-term and stable jobs will be provided.

Dai Hegen, Secretary of the Party Committee and Chairman of China Chemistry, introduced that as of now, China Chemical has more than 320 projects under construction outside China, with a cumulative contract value of more than US$58 billion. There are 6 large-scale petrochemical projects that have been completed and are being executed in Russia. Among them, the completed TAF project won the Luban Award for China's overseas projects and was praised as \"Russian star project built by Chinese enterprises\".