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Russian Federation - Chinese business was presented with the investment opportunities of the Far East and the Arctic in the field of petrochemicals topThe meeting was attended by 9 Chinese oil, gas, and energy companies with total revenues of over $ 850.5 billion.

A single development institute – the Corporation for the Development of the Far East and the Arctic and the Ministry for the Development of the Russian Far East – held a round table on the topic of promising areas of cooperation between Russia and China in the petrochemical industry. During the event, representatives of Russian companies initiating projects for the development of LNG fields, the creation of a gas chemical complex for the production of methanol, and the creation of a hydrogen cluster spoke about the prospects for cooperation to potential investors – the largest oil and gas and energy companies in China, already participating in many large projects in Russia.

Welcoming the event participants, Ilya Chernov, Director of the Investment Development Department of the Ministry of the Russian Federation for the Development of the Russian Far East, and to achieve national goals. Today, Russian and foreign investors implementing projects in the Far East and the Arctic have a “single window” that provides comprehensive business support in conditions of preferential regimes, the use of tax incentives, and administrative preferences, services, and services.

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“The People’s Republic of China is the closest neighbor of the Far Eastern macro-region and the largest trade and economic partner of Russia with a turnover of 104 billion US dollars. Cooperation between the two countries in the oil and gas chemical industry has a long-term dynamic character, ”said Anastasia Nabatchikova, managing director for oil and gas chemistry at the Corporation for the Development of the Far East and the Arctic, before the start of presentations of Russian projects.

LNG development projects were presented by Multifunctional Cargo District. One of the company’s activities is the creation of a multifunctional cargo complex on Sakhalin. The new deep-water port will be used to deliver LNG to the Kuril Islands. The project is supposed to be implemented in the priority development area.

RusChem Group made a presentation on a project to create a gas chemical complex in the Nenets Autonomous Okrug. The enterprise intends to produce methanol on the basis of the Korovinsky and Kumzhinsky gas condensate fields and to build the Indiga offshore export shipping terminal. At the St. Petersburg International Economic Forum, the Corporation for the Development of the Far East and the Arctic and the Ruskhim Management Company agreed on cooperation in the implementation of the project in the Arctic zone of the Russian Federation.

The company Rusatom Overseas (part of the State Atomic Energy Corporation Rosatom) is working on the creation of a hydrogen cluster on Sakhalin. Within the framework of the projects, it is planned to produce low-carbon hydrogen and develop the use of hydrogen technologies in transport. It is expected that business initiatives will be implemented within the priority development areas and the free port of Vladivostok.

Executives from 9 Chinese oil, gas, and energy companies with total revenues of over $ 850.5 billion, including China National Petroleum Corp., the third-largest oil company in the world. and one of the largest oil and gas companies in the PRC, Sinopec, actively participating in Russian oil, gas chemical, and LNG projects, got acquainted with the presented projects in detail. In the future, the parties plan to move on to discussing specific steps and conditions for the participation of Chinese capital in Russian projects.

“The Far Eastern Federal District is one of the main sources of Chinese energy imports. At the moment, more than 70% of foreign investments in the Far Eastern Federal District are in China, and 58 Chinese companies are residents of the ASEZ and FPV. We are sure that the possibilities of our interaction are far from being exhausted by these projects. We are ready to expand cooperation with our Chinese colleagues, who can become our full-fledged partners and investors in the processing and sale of petrochemical products, ”said Ivan Novikov, Executive Director for International Cooperation of the Corporation for the Development of the Far East and the Arctic.

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