Somewhat dragging debates on TPS-1 upgrading are gradually switching over to practical realization.

One of these days, top executives of NIZHNEKAMSKNEFTEKHIM INC and “TATENERGO” signed a protocol for joint TPS-1 upgrading with “Teploelektroproyekt” Institute of Nizhny Novgorod participating. The Parties agreed on the very fundamental issues calling basically for signing between NIZHNEKAMSKNEFTEKHIM INC and “TATENERGO” an Agreement on investment stages and amounts for joint TPS-1 upgrading; establishing a separate legal entity of TPS-1 as a public corporation. It might be unavoidable that other companies interested in obtaining heat and electrical energy on selves-advantageous basis will share in implementing the project.

Management of Nizhnekamskneftekhim Inc assured of investing in TPS-1 upgrading on self-beneficial basis. It is going to finance procurement of new generation gas-turbine units.

According to V. Busygin, General Director of Nizhnekamskneftekhim Inc, in a situation of continuous rise of electric and heat energy rates as well as natural gas prices a joint project is of grand value for the Company. If today 1000 m 3 of gas costs USD 30, in future that figure will grow to 80. The economics of Nizhnekamskneftekhim Inc can be satisfied only by being provided with guaranteed heat.

Press Service NKNK Inc