Board of Directors approved Company’s development strategy in gas chemical and gas processing sector
The Gazprom Headquarters keeps hosting the Board of Directors meeting.
The Board of Directors approved the Development Strategy for Gazprom’s gas chemical and gas processing facilities and tasked the Management Committee with arranging its implementation.
In line with the approved Strategy the main aim of Gazprom’s core business activity in the gas processing and gas chemical sectors is an increase in extraction level and efficient utilization of valuable components of natural gas and associated petroleum gas (APG) with the view of their further processing into a highly liquid product with a high added value.
The Strategy envisages the minimization of the production prime cost in particular through optimizing logistics costs and utilization of advanced technologies. Further improvement of the finance and managerial control system while executing investment projects is another tool of bringing gas chemical business to the new level of efficiency.
In conformity with developed General Scheme for the Russian gas industry development up to 2030, Gazprom is forecasting an increase in natural gas production with high content of ethane, propane, butane etc. from 90 to 160 bcm by 2020. These volumes will become the feedstock basis for gas chemical enterprises.
At present, Gazprom is carrying out investment projects for the construction of gas chemical facility in Novy-Urengoy, reconstruction of Gazprom dobycha Astrakhan and Gazprom dobycha Orenburg gas processing capacities. Sibur Holding has also committed executing a program aimed at developing APG processing capacities.
Gazprom is considering the issue of creating gas processing and gas chemical capacities while developing the reserves of Eastern Siberia and the Far East.
The Development Strategy for gas chemical and gas processing facilities is taking into account not only interests of Gazprom but of entire Russia, by means of APG flaring reduction as well as the setting up and development of processing plants in Russia and, therefore, the maintenance of economical development of Russian regions.