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Rosneft’s refinery project may be included in list of advanced development territories

February 03, 2015, 13:49 UTC+3 VLADIVOSTOK
"All the necessary materials for including the project into the list of advanced development territories were sent to the Ministry for Far East Development on January 22," Alexey Zharov said
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VLADIVOSTOK, February 3. /TASS/. The project prepared by Russian oil major Rosneft to establish a petrochemical facility in the Primorye Territory in the Russian Far East may be included in the government’s list of advanced development territories already in February, a Rosneft subsidiary's deputy head said on Tuesday.

"All the necessary materials for including the project into the list of advanced development territories were sent to the Ministry for Far East Development on January 22. A session of the ministry’s sub-commission is scheduled for February 11," Eastern Petrochemical Company Deputy CEO Alexey Zharov said.

Primorye Territory Vice-Governor Vasily Usoltsev said the regional administration supported the project’s inclusion in the government’s list of advanced development territories. "Both the regional administration and the Ministry for Far East Development have a positive attitude to the Eastern Petrochemical Complex," Usoltsev said. "We want this project to be included in the list of advanced development territories," the Primorye vice-governor said.

The petrochemical facility is expected to have a designed capacity of 30 million tons of oil annually, with the project’s first and second stages estimated at 659 billion rubles ($9.8 billion), the Primorye administration told TASS.

The facility’s first stage is expected to come into operation in 2020 and its second stage in 2022. The project is expected to yield over 1 trillion rubles ($15 billion) in revenues and create about 100,000 jobs in the region.

The petrochemical facility will produce polypropene, high and low density polyethylene, monoethylene glycol and other petrochemical products.

Annually, it will process 3.4 million tons of feedstock supplied by Rosneft’s Achinsk and Komsomolsk refineries and the Angarsk Petrochemical Company.

Crude oil supplied via the East Siberia — Pacific Ocean pipeline will be used as raw material for Rosneft’s new refinery, which is expected to supply most of its products to countries of the Asia-Pacific region.

Technologies for the plant will be licensed from leading world-class specialist companies to ensure the facility’s technical prowess and safety. Particular attention was paid to environmental issues as early as at the design stage, Rosneft said on its website.

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