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MOSCOW (MRC) -- On the margins of the
meeting at SIBUR’s 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.). SIBUR’s 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. |
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