Russia's Irkutsk Oil advances olefins, polymer project

摘要

Irkutsk Oil Co. (Irkutsk, Russia) is advancing plans to diversify into polymers production. On 10 September at the Eastern Economic Forum in Vladivostok, Russia, it signed a cooperation agreement with Toyo Engineering covering construction of a gas chemical com- plex. Under the agreement, Toyo will build an ethylene plant at Ust- Kut in eastern Siberia, using associated petroleum gas feedstock that is currently fared. Yuriy Rubin, CFO of Irkutsk Oil, says the complex will be designed to produce 650,000 metric tons/year of polyethyl- ene, which will be sold to neighboring consumers, mainly in China.