- Over EUR 640 million will be invested in the new Residue Conversion Unit.
- Construction is planned to be completed by the end of 2024.
- The project aims to produce more valuable light products and reduce high-sulphur fuel oil yields.
- General contractor Petrofac is leading the construction.
Groundbreaking Ceremony
On 11 August, the only crude oil refinery in the Baltic States held a groundbreaking ceremony to mark the beginning of construction of a new Bottom of the Barrel Unit in the Mažeikiai District, Lithuania. The event was attended by notable figures including the Minister of Energy of Lithuania, Dainius Kreivys, and representatives from Poland and Petrofac.
Investment and Goals
Over EUR 640 million will be invested in the construction of the new Residue Conversion Unit. The project aims to enhance the refinery's ability to produce more valuable light products, reduce high-sulphur fuel oil yields, and improve competitiveness. The initiative aligns with the refinery's ambition to lead a fair and sustainable energy transition in Central Europe.
Timeline and Completion
The construction is scheduled to be completed by the end of 2024. Once operational, the new unit will contribute significantly to the region's energy security and economic stability by ensuring a stable supply of petroleum products and reducing dependence on macroeconomic changes.
Strategic Importance
The project underscores the strategic partnership between Lithuania and Poland in the energy sector. It is expected to bolster the competitiveness of the Lithuanian economy and enhance energy security in the Baltic region. The general contractor, Petrofac, is responsible for the construction, with a focus on reliable and timely achievement of project goals.
