Russia leads FSU refining capacity growth
Published by Tom Mostyn,
Russia is expected to lead the refining industry capacity growth in the Former Soviet Union (FSU) from active and upcoming (planned and announced) projects, accounting for 56% of the total capacity growth between 2019 and 2024, says GlobalData.
The company’s report, ‘Global Refining Industry Outlook to 2024 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Refineries’, reveals that the total crude oil refining capacity in the FSU is expected to increase from 8.7 million bpd in 2019 to 9.6 million bpd by 2024. Of this, 537 000 bpd capacity additions are likely from expansions of active refinery projects, while the remaining 332 000 bpd is from the new-build planned and announced projects.
Krishna Teja, Oil and Gas Analyst at GlobalData, comments: “Russia is set to lead refining capacity growth in the FSU with 485 000 bpd during the forecast period. Expansions of active refineries account for most of the capacity additions in the country with 463 000 bpd. The Moscow I refinery leads capacity expansions in the country with 106 000 bpd during the outlook period.”
GlobalData expects Georgia to be the second largest country in terms of crude oil refining capacity additions in the FSU. Two new-build refineries – Supsa and Kulevi – are expected to account for entire capacity additions in the country with 100 000 bpd and 84 000 bpd, respectively. The Supsa is an announced refinery, expected to start operations in 2022, while Kulevi is a planned refinery likely to come online in 2024.
Estonia is likely to be the third largest among the countries in the FSU, in terms of refining capacity additions over the outlook period 2020 – 2024. The country’s entire refining capacity additions of 60 000 bpd is likely to come from the planned Sillamae refinery. This topping-type refinery is expected to commence operations in 2021.
Read the article online at: https://www.hydrocarbonengineering.com/refining/17032020/russia-leads-fsu-refining-capacity-growth/
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