Belarus may invest $8.8bn in petrochemical industry by 2030 – Belneftekhim
<p> MINSK, Dec 1 - PrimePress. Belarus’ total investments in the petrochemical industry may reach $8.8 billion by 2030, Vladimir Sizov, Deputy Chairman of Belneftekhim state petrochemical concern, told reporters on December 1, 2020. </p> <p> </p> <p> Around $4.9 billion will be provided by the enterprises of the industry, and $3.9 billion is expected to be raised. </p> <p> </p> <p> According to Sizov, the strategy is based on risk assessment, primarily those associated with raw material. They will be minimized through an upgrade of the oil refineries, an increase in the oil conversion ratio and output of light oil products, generation of strategic oil reserves and modernization of the oil transportation system. </p> <p> </p> <p> Belneftekhim plans to minimize financial risks by switching to formula-based pricing for raw material supplies and sales of finished products, hedging price risks in foreign trade, and creating the most comfortable bank financing terms. </p> <p> </p> <p> “The main emphasis will be put on an increase in the ratio of oil conversion into petrochemical products. Naftan will play the leading role in this, gradually switching from fuel to petroleum chemistry,” said Sizov. </p> <p> </p> <p> A new ethylene and propylene production unit will be built at Naftan (possibly, commissioned in 2026). This will make it possible to produce high-tech plastics (ABS plastic and polycarbonate) with high added value. </p> <p> </p> <p> The Mozyr Refinery will develop its fuel production facilities. </p> <p> </p> <p> Belorusneft will maintain domestic oil output at about 1.7 million tonnes per year and operate the network of electric charging stations (1,300 stations by 2030, according to the plan). </p> <p> </p> <p> Gomeltransneft Druzhba plans to complete the construction of the Gomel-Gorki trunk oil pipeline in 2022 to ensure stable oil supplies to the Belarusian refineries. The enterprise will generate a strategic oil reserve. </p> <p> </p> <p> At present, Belneftekhim’s enterprises account for around 70% of total output of the petrochemical industry of Belarus. End </p>
2020-12-02
Primepress
MINSK, Dec 1 - PrimePress. Belarus’ total investments in the petrochemical industry may reach $8.8 billion by 2030, Vladimir Sizov, Deputy Chairman of Belneftekhim state petrochemical concern, told reporters on December 1, 2020.
Around $4.9 billion will be provided by the enterprises of the industry, and $3.9 billion is expected to be raised.
According to Sizov, the strategy is based on risk assessment, primarily those associated with raw material. They will be minimized through an upgrade of the oil refineries, an increase in the oil conversion ratio and output of light oil products, generation of strategic oil reserves and modernization of the oil transportation system.
Belneftekhim plans to minimize financial risks by switching to formula-based pricing for raw material supplies and sales of finished products, hedging price risks in foreign trade, and creating the most comfortable bank financing terms.
“The main emphasis will be put on an increase in the ratio of oil conversion into petrochemical products. Naftan will play the leading role in this, gradually switching from fuel to petroleum chemistry,” said Sizov.
A new ethylene and propylene production unit will be built at Naftan (possibly, commissioned in 2026). This will make it possible to produce high-tech plastics (ABS plastic and polycarbonate) with high added value.
The Mozyr Refinery will develop its fuel production facilities.
Belorusneft will maintain domestic oil output at about 1.7 million tonnes per year and operate the network of electric charging stations (1,300 stations by 2030, according to the plan).
Gomeltransneft Druzhba plans to complete the construction of the Gomel-Gorki trunk oil pipeline in 2022 to ensure stable oil supplies to the Belarusian refineries. The enterprise will generate a strategic oil reserve.
At present, Belneftekhim’s enterprises account for around 70% of total output of the petrochemical industry of Belarus. End