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Strategic Trends in the Development of the Russian Petrochemical Industry

The petrochemical industry is currently one of the leading sectors of the Russian economy. Oil & gas production as well as hydrocarbons exports directly influenced the development of the industry, and this situation will remain in years to come. Russia accounts for 40.3% of the global reserves of natural gas and for 25% of its proven reserves. Unfortunately, the country exports mostly raw hydrocarbons, whereas value added petrochemical products account for relatively a small share in its exports. The government is well aware that it is vitally important to get rid of raw materials dependency as soon as possible. The country is incessantly looking for news ways of stimulating the petrochemical sector. One of them is to establish industrial clusters. The present article covers all the topical issues associated with Russia's petrochemical industry.

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