Russia embarks on petchems push
Moscow sets ambitious targets to capitalise on feedstock abundance
Russia has lagged behind other oil and gas producers in developing its petrochemical industry, despite its formidable oil and gas resources, commanding only a 1pc share of global petchems supply. This is set to change, though, as Russia's largest firms prepare to launch a raft of new projects over the next few years, aiming to capitalise on the sector's projected rapid demand growth. Eager to provide the economy with a greater downstream hedge against volatile crude and gas prices, Moscow is also planning new measures to spur development, with a target of doubling production to around 20mn t/yr by 2030. The centre piece in Russia's petchems drive is ZapSibNefteKhim, a $9.5bn project slated t
Also in this section
11 February 2026
Panellists from three LNG buyers at LNG2026 in Doha outlined their evolving procurement strategies as they navigate heightened market volatility
11 February 2026
North African producer plans to boost output by early 2030, with Europe its number one priority as export destination
11 February 2026
Maritime leaders at LNG2026 warned of the dangers of over-regulation on competitiveness, sustainability and innovation
10 February 2026
The country has opened bidding on 50 blocks in a new licensing round but will face competition for attention and will need to address concerns about security and legislation
