MOSCOW (MRC) - SIBUR expects market growth in the oil and gas chemistry segment in 2021-2022, despite the threat of new strains of coronavirus, which will have a positive impact on the company, TASS reports, citing the words of the managing director of the company Pavel Lyakhovich as part of the VI Eastern Economic forum.
"Limitations, of course, are possible anyway, because the coronavirus has not disappeared anywhere, it is constantly mutating. Unfortunately, it moves between borders rather quickly, so here, of course, the influence of it and new strains is possible on all segments. And, of course, forecasts. As usual, this is not a very rewarding business. But if some collapses do not happen, then we see that 2021-2022 will show growth for us in the segment itself, which cannot but rejoice, "said the managing director of SIBUR.
"For the Russian petrochemical industry, 2020 turned out to be even better than the previous ones due to the commissioning of new capacities. Thus, the growth in the volume of chemical production in the Russian Federation in 2020 amounted to 7%, and in the first half of 2021 - 8%," said P. Lyakhovich.
"It is probably important that not only production, but also consumption, especially in 2021, we note a very serious growth in the consumption of petrochemical products. Therefore, in Russia, compared to the world, there are more optimistic positive figures," added P. Lyakhovich.
At the same time, the automotive industry and construction in the world continue to recover in 2021-2022, which also inspires optimism, concluded a member of the SIBUR board.
Earlier it was noted that the company's net profit used to calculate dividends for the first half of the year increased 3 times - up to 107.7 billion rubles. Usually SIBUR pays dividends based on the results of the first half of the year and directs 50% of its net profit under IFRS.
As MRC reported, on 23 April of this year, SIBUR announced a merger with TAIF by exchanging 15% of its shares for 50% + 1 share in TAIF. The scope of the transaction includes only TAIF's petrochemical and generating companies. This merger will increase the scale of SIBUR's operations and strengthen its market leadership. SIBUR and TAIF expect to reach final terms and close the deal in the second half of 2021. TAIF together with SIBUR will spend more than 1 trillion rubles. for the implementation of joint projects. In total, the companies plan to implement over 30 projects.
As a result of the merger, the total capacity share of the new SIBUR-TAIF group will be 100% for the production of linear low-density polyethylene (LLDPE), 87.4% for polypropylene (PP), 80.8% for low-density polyethylene (HDPE), and for high-pressure polyethylene (LDPE) - 59.3%.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,176,860 tonnes in the first half of 2021, up by 5% year on year. Shipments of exclusively low density polyethylene (LDPE) decreased. At the same time, PP shipments to the Russian market were 727,160 tonnes in the first six months of 2021, up by 31% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased. Supply of statistical copolymers of propylene (PP random copolymers) subsided.
SIBUR manufactures and sells petrochemical products on the Russian and international markets in two business segments: olefins and polyolefins (polypropylene, polyethylene, BOPP, etc.), as well as plastics, elastomers and intermediate products (synthetic rubbers, expanded polystyrene, PET, etc.)
MRC