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Russian Petrochemical Industry Sets Guideposts
Eurasian chemical market

Russian Petrochemical Industry Sets Guideposts

     The 5th International Chemical Summit accomplished its work on 27 March 2008. The summit was arranged by the government of Moscow, the Association of Petroleum Processors and Petrochemists of Russia, the Russian Chemical Union, and the Russian Union of Industrialists and Entrepreneurs (RSPP). The article covers the reports of key speakers at the Summit, including those of Viktor Ivanov, President of the Russian Chemical Union. Mr Ivanov dwelled upon the Development Programme for the Chemical and Petrochemical Industries through 2015. According to him, around 57% of naphtha and 40% of natural gas are exported, the losses from gas flaring equal (RUB 360bn) USD 15.2m, and the level of oil processing reaches only 67%. The energy costs of the Russian chemical sector are 3.5 times higher than the energy costs of foreign companies. The Programme laid out the development priorities of the chemical industry and these priorities are supposed to be a framework for governmental decision-making.

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