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SIBUR and BASF strengthen partnership on sustainable development

December 06/2019

MOSCOW (MRC) -- On the margins of the meeting at SIBURs PolyLab R&D Centre, SIBUR, the largest petrochemical comples in Russia and Eastern Europe, and BASF, Geman petrochemical major, signed a Memorandum of Understanding (MOU) formalizing their partnership on sustainable development and circular economy agenda further to the companies environmental talks held back in June this year, as per SIBUR's press release.

The memorandum is set to strengthen the partners commitment to long-term sustainable development goals. BASF and SIBUR agreed to collaborate more closely on water efficiency, carbon footprint management and chemicals recycling along with joining forces in implementing international environmental initiatives.

The document was signed by Maxim Remchukov, Sustainable Development Director at SIBUR, and Christoph Roehrig, Head of BASF in Russia and the CIS.

Maxim Remchukov: "BASF has a long-standing expertise and experience in the field of circular economy, excelling in both achieving commercial success and demonstrating environmental and social responsibility. SIBUR is committed to sustainable business practices and is looking to implement the best initiatives and projects dedicated to this cause. We are certain that this partnership will create substantial synergies for both companies helping us to achieve our goals."

Christoph Roehrig: BASF has been pursuing its sustainable growth strategy for as long as 25 years. The signing of this memorandum comes as a significant milestone for our company, and we are particularly delighted to have SIBUR - a recognized leader in the Russian petrochemical market - as our partner. I am confident that our joint initiatives and projects will make a real difference in improving the well-being of present and future generations."

As reported earlier, in late August 2019, SIBUR and BASF agreed to closely cooperate on sustainable development to share their best practices.

We remind that, as MRC informed before, in late November 2019, BASF broke ground on a USD10bn petrochemical complex in southern China, becoming the latest foreign company to increase its presence in the country as Beijing gradually relaxes restrictions on overseas investment. The BASF facility, in the city of Zhanjiang, is the first of its kind in China that will be fully owned by the company after Beijing allowed full foreign ownership of chemical cracking facilities used to produce plastics. BASF said the plant would produce 60,000 metric tonnes of plastic by 2022.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,724,670 tonnes in the first ten months of 2019, up by 7% year on year. Shipments of all PE grades increased. The estimated PP consumption in the Russian market in January-October 2019 totalled 1,066,520 tonnes, up by 7% year on year. Supply of block copolymers of propylene (PP block copolymer) and homopolymer of propylene (homopolymer PP) increased, demand for statistical copolymers (PP random copolymer) decreased.

SIBUR is the largest integrated petrochemicals company in Russia. The Group sells its petrochemical products on the Russian and international markets in two business segments: Olefins & Polyolefins (polypropylene, polyethylene, BOPP films, etc.) Plastics, Elastomers & Intermediates (synthetic rubbers, EPS, PET, etc.). SIBURs petrochemicals business utilises mainly own feedstock, which is produced by the Midstream segment using by-products purchased from oil and gas companies. More than 26,000 employees working in SIBUR contribute to the success of customers engaged in the chemical, fast moving consumer goods (FMCG), automotive, construction, energy and other industries in 80 countries worldwide. In 2018, SIBUR reported revenue of USD 9.1 billion and adjusted EBITDA of USD 3.3 billion.

BASF is the leading chemical company. It produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, crude and gaz condensate, PP block copolymer, homopolymer PP, PP random copolymer, propylene, ethylene, petrochemistry, Sibur Holding, BASF, Germany, China, Russia.
Category:General News
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