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Gazprom Neft to launch Serbia's NIS deep conversion unit in Q3 2019

Gazprom Neft plans to start operating the new DCC at the Pancevo refinery in 2019. 

Gazprom Neft to launch Serbia's NIS deep conversion unit in Q3 2019

Russia's Gazprom Neft has said it plans to start operating the new deep conversion complex (DCC) at the Pancevo refinery of its Serbian subsidiary NIS in the 3rd quarter of 2019, serbian SeeNews reported on December 5, 2017.

The DCC will have an annual production capacity of 700 million tonnes and the bulk of its output will consist of diesel fuel, Gazprom Neft announced in the latest edition of its corporate magazine Sibirskaya Neft.

Moreover, the new unit will allow NIS to fully meet demand for petroleum coke in Serbia, Gazprom Neft said.

The Russian company started the construction of the DCC at the Pancevo refinery in October. Back then, Gazprom Neft said it plans to invest 300 million euro ($356 million) in the project, which will allow the conversion rate - a key indicator of a refinery’s operational efficiency - to reach 99.2%, while the volume of high-quality diesel fuel will increase by more than 38%.

The project is a key part of the 2nd phase of a major programme for boosting the refining capacity of NIS which Gazprom Neft has been implementing since 2009. The Serbian company completed the 1st phase of modernising its Pancevo refinery in 2012 when it built a light MHT/DHT hydrocracking and hydrotreating complex, allowing the plant to commence production of Euro-5 fuel.

Gazprom Neft controls a 56.15% stake in the capital of NIS, while the Serbian government owns a 29.87% shareholding interest.

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