The construction of this facility is a key project in the 2nd phase of a major modernisation programme at the NIS refining facilities, total investment in which stands at more than €300 million.
“This is an important day for Serbia and our relationship with Russia, as well as a testament to our effective joint work. Today we have received one of the most advanced refineries in the region. The new facility will help increase the refining depth and fuel production, and further strengthen NIS’ market position. Our collaboration does not stop at this as we plan to further develop it in the years to come”, said Aleksandar Vučić.
Following the launch of the new complex with its delayed coking technology, the refining depth at the Pančevo refinery will increase to 99.2% - matching the level of the world’s top refineries and significantly surpassing the average refining depth of European plants. The complex will also facilitate an increase in annual production volumes of Euro-5 gasoline and diesel fuels by 2% and 38%, respectively, and of LPG by 7%.
With the launch of the new deep refining complex, the Pančevo refinery is now set to terminate production of heavy fuel oil (mazut), reducing its overall environmental impact.
The commissioning of this new facility will also see the launch of a new product at the refinery - petroleum coke, a product in high demand among the metallurgy and construction industries, which previously had to be imported into Serbia. Production at the Pančevo refinery will more than cover demand for this product in Serbia, and enable exports to other countries in the Balkan region.
«As a result of the successful cooperation between Gazprom Neft and the Serbian government, NIS is now one of the undisputed leaders in the Balkan region’s energy market - accounting for over 13% of the country’s budgetary revenues and providing more than 11,000 jobs», said Alexander Dyukov.
NIS is one of the largest vertically integrated energy companies in south-east Europe. Gazprom Neft holds a 56.16 % interest in NIS, with Serbia holding a further 29.87 %. NIS’ Pančevo refinery is one of the most modern plants in South-East Europe, and a key petroleum-products supplier to the Serbian market.
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