In Russia, only 10% of natural and associated gas gets processed. This fact has been acknowledged a real hurdle to the chemical utilization of natural gas at a meeting between industry representatives and the Analytical Center experts. The situation is better in oil processing as oil refineries have both expanded output and improved product quality. Local suppliers are meeting all of the domestic demand for gasoline, diesel fuel, aviation kerosene and fuel oil. Now the goal is to move away from the growth model that relies on exports of raw materials to a model that relies on investments and innovation. The proposals the experts put forward for how to best go about developing the sector are to be reviewed at a meeting of the Presidential Council for the Modernization of the Economy and Innovative Development.
There are companies in Russia which are hard at work developing the gas and petrochemical industry
“In Russia there is pretty good expertise, there are major universities with good traditions, experience and reputation. They are implementing innovative projects. Also, there are innovative startups - small companies specializing in innovations, and last but not least there are companies that are actively developing their oil refinery, gas and petrochemical assets such as Bashneft, Taneco, Sibur and they too, naturally, have innovative technologies", said Alexander Kurdin, the Head of the Department for Strategic Studies in Energy of the Analytical Center.