A socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5,000 people working in Russia and abroad.

The Foundation works alongside various UN departments and other international organizations, and is building multi-format cooperation with 173 economic partners, including industrialists’ and entrepreneurs’ unions, financial, trade, and business associations from 78 countries worldwide, and 188 Russian public organizations, federal and legislative agencies, and federal subjects.

The Roscongress Foundation has Telegram channels in Russian t.me/Roscongress, English – t.me/RoscongressDirect, and Spanish t.me/RoscongressEsp. Official website and Information and Analytical System of the Roscongress Foundation: roscongress.org.

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Refining Oil and Gas: Useful Hydrocarbons
6 September 2022
12:30—14:00
KEY CONCLUSIONS
Expediting industry projects under the sanctions

We are now seeing flows redirected, a change in payment algorithms so that we would be able to interact with other countries. We are now seeing diversification in terms of supplies of equipment and various solutions. This is a serious acceleration of import substitution. We still have a lot to do in terms of import substitution, but the foundation is there: the foundation has been laid for the last 10 years — Pavel Sorokin, First Deputy Minister of Energy of the Russian Federation.

The current situation accelerated decisions; we will build a 50,000-tonne hexene plant by the end of next year. It is my pleasure to say that this plant will be built using Russian technology, SIBUR technology in particular. The developments that came out of our research centre in Tomsk, in Nizhnekamsk, in Kazan, near Moscow in Skolkovo – they allowed us to start not from scratch — Mikhail Karisalov, Chairman of the Management Board, Chief Executive Officer, SIBUR.

Situation in Russia is not that dramatic compared to the changes around the world

Often it [the foundation created for import substitution, – Ed.] encountered difficulties, insufficient competitiveness in terms of price, service, the complexity of services provided. Now the market and the situation are pushing us to resolve all these problems. <...> It will be hard, but I see no reason not to complete this journey — Pavel Sorokin, First Deputy Minister of Energy of the Russian Federation.

There is quite a lot to do still, but the declared projects will most definitely be implemented. And they will create an opportunity to move further into recycling... And they will be supported by science, demand, employment, and training — Mikhail Karisalov, Chairman of the Management Board, Chief Executive Officer, SIBUR.

Finding a solution required a lot of effort from the bank. But now the situation has changed, we can see that the industry has adapted, and projects are not stopped, and transactions are still going on. And today there is no fear, no feeling that the typhoon will last for a long time. It will be over, it is almost over, and I think that the industry, the banks, and our clients are looking into the future with confidence — Oleg Melnikov, Executive Vice President – Head of the Department of Banking Support for Contracts, Gazprombank.

We have been instructed by the President to gasify our country. <...> By 2025, we will reach the gasification level of 74.7%, by 2030 we will almost completely ensure the technical possibility of gasification of the entire country. <...> We are absolutely confident that we will cope with this task. By 2025, we will have 35 regions fully gasified — Vitaly Markelov, Deputy Chairman of the Management Committee, Member of the Board of Directors, Gazprom.

Russian exchange became an efficient tool for carbohydrate trade

An exchange is an important element both in oil and in gas. It is works well and allows a great number of structures to interact — Pavel Sorokin, First Deputy Minister of Energy of the Russian Federation.

The exchange created by the Federal Antimonopoly Service and the Ministry of Energy actually works as an internal quotation. It allows to determine, for example, the portfolio of products that are produced from propane-butane — Mikhail Karisalov, Chairman of the Management Board, Chief Executive Officer, SIBUR.

We are constantly dealing with issues related to exchange trade. And I would like to say that securing the domestic market through exchange mechanisms proved itself during the COVID years, when a whole series of existing production chains appeared only because there were virtual mechanisms for purchasing goods, and these connections remained — Vitaly Korolev, Deputy Head, Federal Antimonopoly Service of the Russian Federation.

ISSUES
Suspension of supplies from the West, difficulties with logistics due to sanctions

The sanctions restrictions have led to a huge number of technological challenges – not just challenges, but problems that we are seeing all around. The contracted equipment for the LNG facility has had great difficulty in actually crossing the border and entering Russia. There are significant risks of further servicing it today — Stanislav Neverov, General Director, East Arctic Oil and Gas Corporation.

Early work has begun on the production of hexene, which is also a semi-product based on ethylene molecules. Its creation and introduction make it possible to create polymers with special, more premium qualities. Today, unfortunately, there is no such production in the Russian Federation. We are highly dependent on producers from Germany and Great Britain, and at the moment these supplies are stopped — Mikhail Karisalov, Chairman of the Management Board, Chief Executive Officer, SIBUR.

SOLUTIONS
The need for Russian rating and exchange indicators

Obviously, given the fact that the rating agencies are gradually leaving us... we need our own indicators. At present, such work is being carried out jointly with the Ministry of Energy and the Ministry of Finance. We believe that it will be completed successfully. It is clear that nothing prevents us from creating these indicators. Additionally, we need to create them in such a way that we can apply them universally much like the indicators which the agencies used to calculate for us — Vitaly Korolev, Deputy Head, Federal Antimonopoly Service of the Russian Federation.

It is important that this stock indicator really reflects the value of commodities. This means a fairly large number of sellers and a large number of buyers. This is a necessary element, otherwise the exchange indicator does not always reflect the real situation. Here we should also unambiguously talk about the uniformity of supply, the regularity of supply of any resource — Pavel Sorokin, First Deputy Minister of Energy of the Russian Federation.

The material was prepared by the Russian news agency TASS