Mon­go­lia to build first oil re­fin­ery with help from In­dia

Chemical Industry Digest - - News & Views -

Mon­go­lia

launched con­struc­tion of its first oil re­fin­ery. This long-awaited project is funded by In­dia and is de­signed to end the coun­try’s de­pen­dence on im­ported fu­els. The 30mbpd re­fin­ery will be ca­pa­ble of pro­cess­ing 1.5 mil­lion tonnes of crude oil per year.

The re­fin­ery, planned for com­ple­tion in late 2022 will meet all of the na­tion’s de­mand for gaso­line, diesel, avi­a­tion fuel and liq­ue­fied petroleum gas (LPG). By es­tab­lish­ing this strate­gi­cally im­por­tant oil re­fin­ery, the na­tional econ­omy will be­come self suf­fi­cient in its en­ergy needs, and fuel and com­mod­ity prices will be sta­bi­lized. The project is ex­pected to boost Mon­go­lia’s gross do­mes­tic prod­uct by 10 per­cent.

The cost of the re­fin­ery is es­ti­mated at $1.35 bil­lion, and it will in­clude a pipeline and its own power plant. The re­fin­ery will process Mon­go­lia’s own crude oil, which is now sold to China.

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