Rolls-Royce sells turbines to Russia

Rolls-Royce is to supply two gas turbines to power Russian oil company Lukoil's power plant in Budennovsk, Russia.

Each of the Trent 60 turbines will produce 58.5 megawatts of power, which Lukoil said would enable it to reach power capacity at its Stavrolen plant in compliance with its commitments to the Russian Power Market.

Exhaust heat from the engines will be recovered to drive a separate steam turbine, providing additional power to Russian Electrical Grid.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

The equipment will be manufactured and packaged at the Rolls-Royce facilities in Quebec, Canada and Mount Vernon in the U.S.A.

Tom Sacco from Rolls-Royce said proven efficiency and superior fuel consumption of the Trent 60 gas turbine would provide the Russian Power Market with a dependable supply of electricity.

In 2011 Rolls-Royce won a contract to supply Lukoil with five diesel engines for pumping, refining and related services at the Russian firm's diamond mine in the Arkhangelsk region of Russia.