Plan to build petrochemical plant in Russian Arctic

RUSSIA / FSU POLITICS - In Brief 21 Dec 2019 by Alex Teddy
On December 21 it was reported in Vedomosti that Gazprom is planning to construct the world's most northerly petrochemical in Arctic. The plant will produce various types of plastic. The plant will be built on the Yamal Peninsula. This area is where the Bovanenkovo Field is located which is the center of Gazprom's LNG production. The field is estimated to hold 4.9 trillion cubic meters of gas. The cost of the new plant is estimated to be USD 15 billion maximum. Gazprom is in talks with the State Oil Company of the Azerbaijan Republic (SOCAR) about funding it. 115 billion cubic meters of gas are produced by Gazprom in Yamal each year. There are other gas fields there besides Bovanenkovo. Gazprom will start exploiting the others in 2023.

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