The ISAB complex, which is situated in the vicinity of Priolo (Sicily), comprises two refineries connected by a pipeline system and integrated into a single engineering complex with a total capacity of 16 million tons a year, a tank battery with a capacity of 3,700 thousand cubic meters and three marine terminals.
In 2008, the agreement to establish the JV to run the ISAB complex was signed, while at that time LUKOIL owned 49% and ERG 51%.
The agreement also provided an option to the ERG to sell its share to LUKOIL on a stage-by-stage basis.
In 2011, LUKOIL has increased its interest in the JV to 60%, while in 2012 to 80%.
