Gazprom: Gazprom and Irkutsk Oil Company to elaborate project for lithium production from Kovyktinskoye field

Gazprom and Irkutsk Oil Company (INK) signed a Memorandum of Intent today at St. Petersburg International Gas Forum 2021.

According to the document, the parties are interested in starting a joint 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.

The groundwaters of the Kovyktinskoye field contain vast reserves of natural lithium compounds. Lithium is highly sought for in various industrial applications, including the manufacture of rechargeable batteries for electric devices and electric vehicles.

INK, in its turn, possesses proprietary technologies for processing lithium-containing production waters and is ready to adjust them so as to process the formation brines produced from the abovementioned field of Gazprom.