The commercial industrial gas market in Belarus is estimated to have generated revenues of almost $20 million in 2016. This is marginally down on 2015 but we estimate a strong rise of 12% in 2017 on the economic rebound within the country.
Within the 2017-2022 timeframe, our forecast models predict growth from 4.2% p.a. in a low scenario to 8.7% p.a. in a high scenario. Accordingly, the industry in the Belarus is expected to achieve revenues of between $25 m to $32 m by 2022.
Report Data: 2016
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According to the official Internet Portal of the President of the Republic of Belarus, discussions have commenced for a new nitrogen (N2) plant to be built in Belarus while the large chemical enterprise Grodno Azot will be modernised.
JSC Grodno Azot of the Republic of Belarus has concluded an agreement with JSC Cryogenmash for the construction of three large air separation plants (ASP) at the company’s Belarus petrochemical plant.
SIBUR Holding OJSC and Republican Unitary Enterprise Belorusneft Production Association have signed an agreement to cooperate on activity in the Belarus petrochemicals sector over the next two years.
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