The paradigm shift on the global energy resource market and standards regulating fuel quality will also impact and direct the strategic development fields of VKG.
In 2012, the triumph of unconventional shale gas continued on the global energy resource market, and the production of shale oil in the US also increased rapidly in 2011-2012. The production of shale oil does not affect the world market prices of liquid fuels, but the production of such energy resources on the territory of the world’s biggest consumer, the United States of America, prepares fuel producers for a paradigm shift – according to forecasts, the United States of America will become an exporter of fuels, rather than an importer of fuels, in 2025. The Peak Oil theory related to the depletion of the oil reserves has been forgotten, and in 2012, the shale gas and shale oil reserves were also officially added to the reckoning of global energy resources.
The reduction of sulphur content to 0.1% in ship fuels that will enter into force in 2015 on the current markets of VKG and the extensive limitation of sulphur content in the fuels used on both land and sea in the period 2010-2020 pose clear challenges to oil shale manufacturers.
As customary for a stable branch of industry, the main strategic directions of VKG will not change rapidly, the earlier plans are purposefully implemented and the period for preplanning is over ten years. The year 2013 will be no exception as the group continues with the earlier planned directions – the gradual extension of oil manufacturing and developing the manufacturing of motor fuels and oil shale chemicals.
THE MOST IMPORTANT ONGOING PROJECTS AND THE PROJECTS TO BE LAUNCHED IN 2014
- Construction of the oil plant Petroter II, start of the production process.
- Construction of the oil plant Petroter III (planned start-up in summer 2015).
- Construction of the limestone plant, initial start-up, production start-up.
- Extensive use of oil shale mine waste outside of the group in the field of road construction.
THE MOST IMPORTANT RESEARCH AND DEVELOPMENT ACTIVITIES IN 2014
- Pilot testing of the process of liquefying the oil shale gas and the cost-benefit analysis.
- Constructing sill mats on the basis of oil shale ash in the Ojamaa mine.
- Extensive research of the possibilities of using oil shale ash, initiation of the certification of ash.
- Developing the concept of the production of fuel oil on the basis of biomass.