RusGazDobycha, a business partner of Russian gas giant Gazprom, plans to start building a chemical plant as part of a massive gas processing cluster on the shores of the Baltic Sea, later this month, RusGazDobycha said.

The wider project with Gazprom's participation will help Russia, already a leading energy producer, to reach its goal of boosting its share of the LNG market.

The cluster is designed to process annually 45 billion cubic metres of natural gas, produce 13 million tons of LNG, 3.6 million tons of ethane and up to 1.8 million tons of LPG.

A first stage of the cluster is set to come on stream in 2024, while the second is to be launched in 2025.