Rosneft to establish new petrochemical company in Russia


Russian petroleum company Rosneft has signed an agreement with Primorsky Governor Vladimir Miklushevsky to cooperate in the oil and gas refining and petroleum industries in Primorsky Krai, Russia.

"Rosenft will also develop petroleum product transport and storage infrastructure in the region."

As part of the agreement, Rosneft will construct the Eastern Petrochemical Company in the region.

The petrochemical facility will produce propene, polyethylene, monoethylene glycol and other petrochemicals, produced from materials supplied from Rosneft's Achinsk and Komsomolsk refineries and the Angarsk Petrochemical Company.

Rosenft will also develop petroleum product transport and storage infrastructure in the region.

The capacity of individual units at the Eastern Petrochemical Company is expected to be as good as any existing global players, according to the company.

The agreement also allows for the construction of a power plant as part of the Eastern Petrochemical Company to generate 685mw of electricity and 1054 Gcal/h of heat.

Keeping in consideration the environmental issues, Rosneft has started developing an environmental monitoring programme and designing technical solutions.

The project is expected to create new jobs at the facility and in related sectors in the region.