Russia's aspirations of petrochemical leadership are fading Report

Insight 15 April 2015

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Report summary

Russia approved a development plan in 2012 to rebuild the petrochemical sector after decades of underinvestment. The plan is also seen to help reduce Russia's economic reliance on upstream oil and gas revenues. However, Russia's efforts to develop its petrochemical sector will be hampered by several key factors, such as western sanctions and the devalued rouble. Russia will now have to recalibrate its expectations of increasing its footprint in the global petrochemical market.

Executive Summary
Russia's potential to be a major petrochemical producer
There is a plan to promote the petrochemical sector and economic diversity
Sanctions are the petrochemical sector's biggest threat
Sourcing finance will be challenging for new ethylene projects
Russian ethylene producers face expensive capital and catalyst imports
Feedstock costs for naphtha steam crackers will rise
A poor economic outlook doesn't mean lower ethylene production
The long-term implications for ethylene, co-product and derivative production

Tables and charts

This report includes 7 images and tables including:

Recoverable Reserves by Country (Top 10)
Ethylene Production per Capita by Country, 2014
Figure 2 – Russian Ethylene Steam Crackers by Location

Table 1 - Russian Steam Cracker Projects (potentially adding 9.62 million tonnes of ethylene)
Figure 3 - Russian Operating, Firm and Planned Steam Cracker Capacity 2015-2030
Figure 4 – Russian Net Trade Position for Polyolefins (2005-2014)
Figure 5 - Factors Impacting Russian Ethylene Projects