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Russian-Kazakh cooperation in petrochemical industry is on the rise — ministry

The total cost of joint Russia-Kazakh projects in this sphere is about $12 billion

NUR-SULTAN, August 31. /TASS/. Russian-Kazakh cooperation in petrochemical industry is on the rise, the press service of the Kazakh Energy Ministry reported on Tuesday following the participation of Energy Minister Nurlan Nogayev in the opening of the petrochemical forum in Russia’s republic of Tatarstan.

"Speaking at the opening of the forum, held in the city of Kazan, the Energy Minister marked positive dynamics in development of cooperation between Kazakhstan and the Russian Federation in petrochemical industry, one of the key sectors of the economy," the press service said.

In particular, Nogayev noted that earlier this year, largest oil and gas companies of Kazakhstan and Russia - Kazmunaigaz and Tatneft - signed an agreement on the basic terms of interaction on the production of butadiene and its derivatives.

Investments in this project will reach about $820 million, the deadline for its completion is 2026, the ministry said adding that plant's products will be supplied to Russia, Europe, Turkey and China.

The Ministry of Energy also said that Kazakhstan is building a plant for the production of polypropylene with a capacity of 500,000 tonnes per year. The cost of the project is $2.6 billion. In addition, projects for the production of polyethylene terephthalate, methanol, polyethylene, butadiene and base oils are at various stages of development.

"The total cost of these projects is about $12 billion," the press service noted.

During a working trip to Tatarstan, Nogayev will take part in an international scientific and practical conference on development of the fuel and energy sector as part of the EU decision on decarbonization. He will discuss with colleagues a wider use of petrochemical products in road construction and construction industry, as well as meet with the President of the republic of Tatarstan Rustam Minnikhanov.