Rosneft's FEPCO project geared towards export, will depend on marketing
MOSCOW. Dec 26 (Interfax) - Rosneft's Far East Petrochemical Company (FEPCO) project is geared towards exports, so its implementation will depend on marketing policy, Deputy Russian Energy Minister Kirill Molodtsov told reporters.
"The project is geared towards the external markets. We can largely cover the domestic market with modernized existing plants. Supplies can always be met with the help of the Khabarovsk and Komsomolsk refineries, and there are after all the Omsk and Orsk refineries, the Angarsk complex. Consumption there [in the Russian Far East] does not exceed 1.5 million tonnes of gasoline," Molodtsov said.
"So the FEPCO project depends on the economic feasibility of the marketing that the company is able to provide. If they see it is feasible we'll back it," he said.
There has been no serious movement with the project since the beginning of 2016, Molodtsov said.
It was reported earlier that the launch of the first train of the FEPCO complex facility with capacity to process 12 million tonnes of oil was scheduled for 2020. The first line will have capacity to produce 1.6 million tonnes of gasoline, 800,000 tonnes of aviation kerosene, 6 million tonnes of diesel fuel, 2.2 million tonnes of naphtha, 600,000 tonnes of petroleum coke and 400,000 tonnes of liquefied petroleum gases.