Today, the contribution of petrochemicals to Russian GDP is lagging significantly behind the equivalent figures for leading global economies (at less than 2% in comparison with 6% in the USA and 9% in China). At a time of growing foreign competition, choosing the right direction for the development of petrochemical projects within a Far Eastern cluster is gaining particular relevance. It is no coincidence that the Russian Far East is the location for a number of major petrochemical projects which are either at the implementation stage or in preparation, including the Amur Gas Processing Plant, Amur Gas Chemical Complex, Skovorodino Methanol Production Plant, Nakhodka Fertilizer Plant, and many others, representing a total value of more than USD 20 billion. Its close proximity to the premium Asia-Pacific market provides the cluster with an additional advantage. The extraction of helium and other valuable components from Yakutsk and Irkutsk gas at Far Eastern facilities has the potential to facilitate the development both of related markets, and of high-tech industrial sectors. How well supplied is the region with raw materials and the capacity to process them? What factors should form the basis of value creation chains within the sector? What high-value-added products will be in demand on domestic and external markets? Is there a need to develop the small-scale LNG market in the region? Will changes to the tax regime affect the cost of raw materials for the petrochemicals sector? Petrochemicals from naphtha, ethane, or LPGs what should be developed and why?