Russia expands energy projects for APR

The Board of Directors of Rosneft is going to increase the capacity of the project of Eastern Petroleum Company in Primorye from 10 to 30 million tons per year in compliance with the iinstructions of Vladimir Putin to provide the regions of the Far East with oil products. The investment into the construction of the three lines will make up 1.3 trillion RUR ($40 billion). The project will not only provide several thousand of working positions but 1 trillion RUR as taxes to all-level budgets by 2030. The products of the complex will be delivered not only to the Far East but to the APR countries, the senior analyst of Alpari investment company, Anna Bodrova notes.

“The main direction of Eastern Petroleum Company is Asia, China, i.e. the markets where the demand for energy sources and polymers will be high enough. Speaking about potential buyers, the parties conduct negotiations and if they come to an agreement with Asian partners, the project will be more attractive”.