MOSCOW (MRC) - SIBUR will develop a feasibility study for the construction of a gas processing plant near Kazan by July 2020, Kommersant writes.
Based on the feasibility study, the company's shareholders will decide on the construction of the enterprise.
Leonid Alekhin, senior project manager of SIBUR Holding, does not disclose the proposed location of the enterprise, production volumes and final products. "There are gas pipelines through which gas can be supplied to the gas processing plant. The plant will start to extract ethane from the pipeline gas mixture and a wide fraction of light hydrocarbons - the most valuable raw materials for gas processing. Shareholders will decide what to do with NGL, whether to divide it into fractions or not, and ethane should “Dry gas will be returned to the pipeline and will be used later," he said.
SIBUR is the leader of the Russian petrochemical industry and one of the largest global companies in the sector with more than 23 thousand employees. In 2019, SIBUR's revenue amounted to USD8.2 billion, EBITDA - USD2.6 billion.
Over the past 10 years, SIBUR has implemented a number of large-scale investment projects worth about 1 trillion rubles. Every year, the company directs at least 70% of EBITDA to finance the investment program, while maintaining a balanced debt burden.
Earlier it was reported that SIBUR Holding on March 25 will early pay off bonds of the 12th series for 10 billion rubles. In particular, SIBUR Holding PJSC decided to early repay the 12th series bonds in the amount of 10 billion rubles, the company said. The repayment will take place on March 25, at the end date of the 7th coupon period.
SIBUR Holding PJSC is the largest petrochemical company in Russia and Eastern Europe with full coverage of the industry cycle from gas processing, production of monomers, plastics and synthetic rubbers to plastics processing. The main shareholder of SIBUR Leonid Mikhelson controls 48.48% of the company, Gennady Timchenko - 17%, Kirill Shamalov - 3.88%, the current and former management of the company (including SIBUR chairman of the board Dmitry Konov and head of Gazprom Neft Alexander Dyukov) - 10.6%, Chinese Sinopec and the Silk Road Fund - 10% each.
MRC