WORLD ECONOMY

Rosneft plans to boost gas production by 30 bcm by 2025

Company can direct extra gas volumes to chemical processing, Rosneft official says

Anadolu Agency

Russia's largest oil producing company Rosneft plans to increase natural gas production by 30 billion cubic meters by 2025, a company official said on Wednesday.

Igor Soglaev, director of the oil and gas chemistry department in Rosneft, spoke at the Russian Energy Week forum in capital Moscow, where Anadolu Agency is a media partner.

He said the Russian company also planned to increase production of petrochemicals by 2025.

With the increase in gas production, the company can direct the extra volumes to chemical processing, he explained.

The company produced about 67 billion cubic meters of natural gas in 2016, which was an increase of around 7.5 percent compared to 2015.

With oil as the company's primary business, Rosneft is the leader in oil refining in Russia. Gas and petrochemicals are also big sectors of the Russian company.

The company’s oil refining and petrochemicals unit comprises 13 large refineries situated in key regions in Russia, as well as three petrochemical plants, four gas processing plants, two catalyst production plants and one service company.

Rosneft's petrochemical complex comprises the Angarsk Polymer Plant, the Novokuibyshevsk Petrochemical Company and Ufaorgsintez.

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