The Novy Urengoy Gas Chemical Complex is planned to be put into operation in 2017, RIA Novosti reports, citing the final socioeconomic forecast submitted to the State Duma jointly with the 2016 budget.

The complex is being constructed at a distance of 30 km from the town of Novy Urengoy in the Yamal-Nenets Autonomous Area. Since 2013, Gazprom Investproject and VIS Construction Group have been the project investor and general contractor, respectively.

The design capacity of the complex is 400,000 metric tons of low-density polyethylene of different brands per year. The company will also produce a broad fraction of hydrocarbons and a methane fraction.

The gas produced at the Urengoy gas condensate field will serve as the basis for the production of ethylene and polyethylene.