Rosneft, Mitsui sign petrochemical MOU
Rosneft and Mitsui & Co. have signed a memorandum of understanding to jointly build a large petrochemical complex in far eastern Russia.
The plant is to have capacity to process 3.4 million tonnes/year (tpy) of feedstock, mainly naphtha, to produce 2 million tpy of ethylene and propylene. Plans include production of polymers and other petrochemical products.
The site is in the Primorsk region near the village of Pervostroyiteley in Nakhodka City District.
Rosneft subsidiary Far East Petrochemical Co., incorporated in 2011, is the developer.
Feedstock will come from Rosneft’s 7 million tpy Achinsk refinery, 8 million tpy Komsomolsk refinery, and petrochemical plant at its 11 million tpy Angarsk refinery.
The complex is to have its own sea terminal in an ice-free port.
The memorandum calls for cooperation in engineering design, followed by a final investment decision.