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SIBUR and Gazprom agree a long-term supply contract

February 15/2012

(sibur) -- SIBUR and  Gazprom have signed a long-term contract to supply natural gas liquids (NGL) from the Surgut Condensate Stabilisation Plant to the Tobolsk-Neftekhim facility up to 2021.

The annual supply of NGL between 2012 and 2016 will increase from 440,000 tonnes to more than one million tonnes. Agreement on the volumes of hydrocarbon feedstock to be supplied in subsequent years will be reached at a later date.
The contract provides for formula pricing with reference to market conditions for NGL product processing and the cost of transportation and NGL fractionation.
In addition, the parties agreed to continue talks on supplying hydrocarbon feedstock to SIBUR gas-petrochemical enterprises located in other regions of Russia.


Dmitry Konov, CEO of SIBUR, said: "Issues surrounding long-term raw material supplies are important for the companys investment development. Through a strategic partnership with Gazprom and other leading oil and gas companies, SIBUR is able to multi-source light hydrocarbons, providing a base for the sustainable growth of petrochemical production".

SIBUR is the leading petrochemical company in Russia and Eastern Europe. The Company operates across the entire petrochemical process chain from gas processing, production of monomers, plastics and synthetic rubbers to the processing of plastics. SIBUR is a vertically integrated company with its gas processing facilities providing feedstock for its petrochemical production.

 

mrcplast.com

Author:Anna Larionova
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Category:General News
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