Russia Mulls Creating Petrochemical Cluster In Yamal - Deputy Prime Minister

MOSCOW (UrduPoint News / Sputnik - 01st December, 2020) A special working group was created in the Russian Energy Ministry to study the creation of petrochemical and gas chemical facilities on Yamal Peninsula, which would attract up to 2 trillion rubles ($26.4 billion) of investments, Russian Deputy Prime Minister Alexander Novak said on Tuesday.

Speaking at a meeting with Russian President Vladimir Putin on the development of petrochemical and gas chemistry at a Sibur facility in Tobolsk, Novak noted that it should be done on the basis of a cluster approach to improve the efficiency of involving reserves.

"The Arctic zone may become one of the promising regions for the further development of processing facilities in Russia.

In this regard, a special working group has been created by the energy ministry, together with interested companies and Federal executive authorities, to develop gas chemical and production facilities on the Yamal Peninsula," Novak said.

"The investment project for the implementation of a gas chemical complex on the Yamal Peninsula involves the construction of a gas processing and gas chemical complex ... The implementation of the Yamal gas chemical cluster will attract more than 2 trillion rubles in investments, lead to the creation of more than 22,000 new jobs and provide an increase in non-resource and non-energy exports by 125 billion rubles a year," he added.