On May 31, 2017 within the framework of a visiting meeting with Russian metallurgical and machine-building industry enterprises presided by Alexey Miller, Chairman of the Management Committee Gazprom PJSC, Power Machines PJSC, leading Russian power plant engineering company, and The Linde Group, one of the leading gases and engineering companies in the world, started production of heat exchange equipment for natural gas liquefaction and processing.
The Power Machines – Linde AG joint venture project is being implemented with the framework of State import substitution program; it is focused on localization of world-class high-tech products manufacture in Russia.
The JV products are intended for the rapidly growing Russian liquefied natural gas production market. The partner companies' interests in the joint venture are 50%. Whereupon Linde is the technology supplier and Power Machines ensure localization of equipment manufacture.
The Russian-German joint venture will ensure localization of coil-wound heat exchangers for use at production facilities using various natural gas liquefaction and processing technologies. The production was started at the existing production facilities of Power Machines PJSC (Saint Petersburg); whereupon the share of Russian-made components in the equipment will be maximized.
“The first products of the joint venture are intended for the Amur gas processing plant (GPP) which is being constructed by Gazprom PJSC at present,” said Dr Alexander Unterschuetz, Head of Global Manufacturing at Linde Engineering Division. “We are very pleased to collaborate in this JV with Power Machines in the localization of plant equipment production in Russia.”
"We rejoice at strategic partnership with Linde company that has a great experience in this engineering sector, and we are thankful to Gazprom PJSC for its confidence given to Power Machines when choosing a production partner in equipment localization," said Roman Philippov, Chief Executive Officer of Power Machines. - State policy of import substitution sets conditions for mastering manufacture of new types of products and localization of high-tech equipment manufacture in the territory of Russia".
The companies started cooperation in June 2016 when an agreement of intent was signed considering the possibility of establishing a natural gas liquefaction and processing equipment production facility in the territory of Russia.