Rosneft may invest over 1 trillion rubles (31 billion dollars) in Eastern Siberia and Russian Far East in the next 5 years, Rosneft CEO Igor Sechin said during a video conference with President Vladimir Putin. Sechin made his statement during a visit to Rosneft’s Orlan oil platform in the Sea of Okhotsk off Sakhalin Island.
“In the next five years, with your [Putin’s] support, and given that the tariff policy and the tax regime stabilize, our investment in East Siberia and the Far East in a conservative scenario may total 1 trillion rubles,” Sechin said.
According to Sechin, the development of Rosneft’s resource potential in the Far East will enable implementation of large-scale projects such as construction of an LNG plant in Sakhalin and a petrochemical complex in Primorsky Krai with the processing capacity up to 30 mln. tonnes.
In Sechin’s opinion, these projects should will spur the regional infrastructure development: construction of ports, power facilities, auto and railroads creating tens of thousands jobs.
Taxation in the Russian fuel and energy sector will be discussed at a meeting on the social and economic development of the Sakhalin Region later in the day, Putin said during a video conference.
“As for taxation, we’ll speak about this today at a meeting on the development of the Sakhalin Region. I’m sure solutions will be found that will be acceptable for both producers, the regional budget and the central budget,” Putin said.