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Rosneft has estimated investment in petrochemicals at $30bn

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Rosneft intends to develop O&G chemistry within the three clusters intensely, as reported by Igor Soglayev, VP of the company. «The overall investment in three clusters, by our estimates, will account for $30bn,» — he said. This refers to the investment of Rosneft and JV partners before 2025, including the project funding.

Igor Sechin, Chief Executive Director at Rosneft, has earlier referred to petrochemicals as a new strategic company’s activity. Rosneft projects to increase the share of O&G chemistry in the overall refining capacities up to 20.

The first cluster is the Volga cluster with two focus areas in Samara and Ufa, where the company is set to build a polymer facility with a capacity of 2,5 mtpa of ethylene and aromatic plastics. The company also intends to develop Ufaorgsintez (Bashneft subsidiary controlled by Rosneft) and integrate the site with Samara and other European facilities.

The second, East Siberian cluster can be created in cooperation with Sinopec, based in Boguchany of the Krasnoyarsk territory and Angara facility. Rosneft projects to process APG from Yurubchensky cluster having the potential of 6 m t further expansible to 15 m t. «We are completing the feasibility study, which has rather positive outcomes. <…> We are highly interested in the project,» —the top manager added. The project will be implemented for Sinopec distribution network in China and South-East Asia.

The third cluster will be located in the Far East, where Rosneft intends to build the Eastern petrochemical complex. The project has recently gained the new momentum. «We have defined the resource base: the facility will be based on naphtha. At least 1,5 m t of ethylene pyrolysis,» — Soglayev added.

He also highlighted the restraining factors and challenges facing the producers of O&G chemistry. Financial aspect is among them. «As for financial aspect, the present-day geopolitical issues greatly affect the situation <…>. And the support essentially comes from Russian banks and Russian finance system,» — Soglayev added. Moreover, the finance may come from friendly nations.

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