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SIBUR and Sinopec sign agreements to jointly produce and sell petrochemicals

June 10/2019

MOSCOW (MRC) --  SIBUR and Sinopec signed a number of agreements concerning the production and sale of petrochemicals, as per SIBUR's press release.

SIBUR Holding and China Petroleum & Chemical Corporation (Sinopec) signed a sectoral cooperation agreement setting out the details of their strategic partnership in China, Russia, and other countries, which also covers joint projects. Under the deal, SIBUR and Sinopec have agreed to join forces to process natural gas into petrochemicals in Russia and China, and to engage in R&D and personnel training cooperation to facilitate sharing of knowledge and expertise.

SIBUR International GmbH (SIBURs export division) and Sinopec Chemical Commercial Holding (Hong Kong) Company Limited have signed a distribution agreement to supply polyethylene to China from SIBURs ZapSibNeftekhim site.

"The agreements are a testament to the successful cooperation that has existed for years between our company and one of the global petrochemical leaders and will drive further expansion of SIBUR and Russian petrochemical products into China", said Dmitry Konov, Chairman of the Management Board at SIBUR Holding.

As MRC reported previously, in late May, 2019, Russia's Prime Minister Dmitry Medvedev cut the ribbon of the first domestic R&D centre for the development and testing of polymer products SIBUR PolyLab located at the Skolkovo Innovation Centre.

SIBUR is a uniquely positioned vertically integrated gas processing and petrochemicals company. We own and operate Russias largest gas processing business in terms of associated petroleum gas processing volumes and are a leader in the Russian petrochemicals industry. As of 31 March 2014, SIBUR operated 27 production sites located all over Russia, had over 1,400 large customers engaged in the energy, chemical, fast moving consumer goods (FMCG), automotive, construction and other industries in approximately 70 countries worldwide and employed over 27,000 personnel.


mrcplast.com
Author:Margaret Volkova
Tags:gas processing, petrochemistry, Sibur Holding, Sinopec, China, Russia.
Category:General News
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