Russia extends its energy projects for the Asia-Pacific region

The Rosneft’s Board of Directors has made a decision to increase the capacity of implemented project of the Eastern petrochemical company (VNKhK) in the Primorsk region from 10 to 30 million tons per year. This was done in accordance with Vladimir Putin’s order on provision of Far Eastern regions with oil products. The amount of investments into construction of three lines will make up 1.3 trillion rubles ($40 billion). The project will give not only several thousands of jobs, but also 1 trillion rubles in the form of taxes to budgets of all levels through until 2030. The complex’s products will be supplied not only to consumers of the Far East region, but also to countries of the Far East region, senior analysts of the investment company Alpari Anna Bodrova notes.

“The directions of the VNKhK’s works is Asia, China, i.e. markets, where the demand for energy source and polymers will be rather high. As for possible purchasers, currently the parties negotiate; if they manage to agree with Asian partners, the project will become more attractive”.