Gazprom: Documents signed for lithium production project at Kovyktinskoye field

A set of documents aimed at implementing the project for the production and processing of formation brines (saline groundwaters) from the Kovyktinskoye field of Gazprom in order to obtain lithium compounds and other valuable components was signed today at a meeting held via a video link.

Alexey Miller, Chairman of the Gazprom Management Committee, and Denis Manturov, Minister of Industry and Trade of the Russian Federation, signed an Agreement of Cooperation.

The parties agreed to, inter alia, cooperate in R&D activities aimed at creating domestic technologies, equipment and materials required to implement the project. The document also envisages drawing up proposals regarding state support measures for research and industrial enterprises.

A tripartite action plan (roadmap) for the project was also signed between Gazprom, Irkutsk Oil Company, and the Ministry of Industry and Trade of the Russian Federation.

“According to expert estimates, demand for lithium will continue soaring in the coming years. And it is commonly known that Russia imports all the lithium consumed nationwide. That is why it is especially important to develop domestic technological expertise in this field.

Gazprom is actively engaged in setting up import-substituting facilities covering the full cycle of lithium production and processing. We have already completed a feasibility study for a project of this kind for the Kovyktinskoye field. The project has a very large potential. Initial estimates suggest that it might cover the bulk of domestic demand for lithium in the long run,” said Alexey Miller.

“Today’s event is an essential and substantive step towards fulfilling the ambitious goal of fully providing the industrial complex of Russia with domestically-produced rare metals and rare earth metals by 2030. This goal was set by the Russian Government and embedded in the roadmap entitled ‘Technologies for new materials and substances.’ In this context, the development of the lithium industry is a must.

Despite a substantial resource base, Russia is not producing lithium yet. This only enhances the significance of the prospective project of Gazprom and Irkutsk Oil Company. It offers us an opportunity to shape a full-cycle lithium industry with a high export potential,” said Denis Manturov.