(Russia/Petrochimical Sector/Arctic) Putin tasks to expand petrochemicals roadmap with Arctic projects (TASS)

Russian President Vladimir Putin ordered to update the roadmap of the Russian petrochemical sector development by 2025 and complement it with implementation of promising petrochemical and gas chemical clusters in the Arctic, according to the list of assignments posted on the Kremlin’s website on Monday.

In particular, the petrochemical industry roadmap should include oil, gas and gas condensate fields and the project of the Arctic gas chemical cluster development near Sabetta in the Yamal-Nenets Autonomous District, the document says.

The assignment of the head of state also specifies that the issue should be considered on or before June 30 concerning feasibility of making amendments in the Russian fiscal laws, providing the opportunity of applying an investment coefficient that increases the credit in the form of the computed excise amount by companies using raw hydrocarbons, straight-run gasoline and propylene as the feedstock in petrochemical and gas chemical production, on condition of participation of such companies in investment agreements.