President Vladimir Putin has given an instruction for the roadmap of the petrochemical industry development until 2025 be updated by adding measures providing for the establishment of promising petrochemical clusters in the Arctic. The instruction was issued as a follow-up to the meeting on the petrochemical industry strategic development.

According to the document, the roadmap should include oil, gas and gas condensate fields as well as the project for building an Arctic gas chemistry cluster in the vicinity of the Sabetta settlement in Yamal-Nenets Autonomous District.

The presidential assignment states that the work plan on the petrochemical sector development should be updated by June 30.

The same deadline was set for considering the expediency of amending tax legislation providing an opportunity of applying an investment coefficient that increases the deduction amount in the form of the calculated excise sum (higher excise included) by the entities using crude oil, straight-run gasoline and propylene as raw materials in their petrochemical production on condition that such entities are parties to investment contracts.