Petro-Gas Chemistry in Russia’s East: Growth Driver or Ballast?

Valeriy Kryukov () and V. V. Shmat ()
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V. V. Shmat: Institute of Economics and Industrial Engineering, Siberian Branch, Russian Academy of Sciences

Regional Research of Russia, 2021, vol. 11, issue 2, 174-186

Abstract: Abstract— The article discusses problems in the development of petro-gas (petroleum) chemistry in Russia’s East. The main modern features of the Russian petrochemical industry and key forks of further development are considered, taking into account the alternative of the domestic and foreign markets. Both sectoral and regional aspects of new projects are analyzed compared to the current foreign approaches to including petrochemicals in socioeconomic development of territories. A typical (model) project involving polymers for the conditions of the Far East is assessed from an economic standpoint, demonstrating its lagging efficiency due to high costs. The technological lag of the Russian petrochemical industry has been noted as one of the most important related problems, and some ways of overcoming it via import substitution combined with effective cooperation with foreign partners are indicated, including formation of industrial petrochemical clusters in the eastern regions of the country. The authors conclude that it is necessary to strengthen the coordinating role of the state in implementing expensive petroleum chemical projects in the East. This will make it possible to rationalize costs, increase the economic efficiency of projects, and expand the possibilities of interregional and intersectoral interactions.

Keywords: petroleum chemistry; Far East; investments; technological development; economic efficiency; state regulation; cooperation; integration; industrial clusters (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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DOI: 10.1134/S2079970521020076

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