As part of the APEC Summit, Rosneft President Igor Sechin and Primorsky Region Governor Vladimir Miklushevsky have signed an agreement on cooperation in oil and gas refining, supplies of petroleum products and energy.

A key area set down in the agreement is the guaranteed, stable provision of petroleum products for the region’s consumers, including through the construction of petroleum product production and sales facilities and the development of petroleum product transport and storage infrastructure.

Rosneft’s strategic project to construct the Eastern Petrochemical Company will play a significant role in forming the Primorsky region’s budget, implementation of regional socio-economic programmes and development of the region’s social infrastructure. The petrochemical facility will produce propene, high and low density polyethylene, monoethylene glycol and other petrochemicals produced from materials supplied from Rosneft’s Achinsk and Komsomolsk refineries and the Angarsk Petrochemical Company. The capacity of individual units at the Eastern Petrochemical Company will be greater than any existing global peers. Implementation of the project will create thousands of new jobs both directly at the facility and in related sectors.

The agreement envisages the construction of a power plant at the Eastern Petrochemical Company with a design generating capacity of 685 MW of electricity and 1054 Gcal/h of heat. Design of the plant will take into consideration the heat and electricity needs of the Nakhodka urban district and surrounding villages.

Cooperation between Rosneft and the Primorsky region also aims to resolve environmental and industrial safety challenges. The Eastern Petrochemical Company’s operations will be carried out in full compliance with all environmental and industrial safety regulations and standards. A team of Rosneft specialists is already developing an environmental monitoring programme and crafting unique technical solutions that will make the facility safe for people and the environment.

The agreement serves to drive the implementation of Rosneft’s significant investment projects in the Primorsky region.