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SIBUR, Samruk-Kazyna and KazMunayGas signed agreements on petrochemical projects in Kazakhstan

October 08/2021

MOSCOW (MRC) -- During the XIV KAZENERGY Eurasian Forum, SIBUR, Samruk-Kazyna and KazMunayGas signed agreements setting out the core terms of cooperation on petrochemical projects in the special economic zone National Industrial Petrochemical Technopark in Atyrau, the Republic of Kazakhstan, said the company.

The agreements regulate the establishment of joint ventures as part of an integrated gas chemical complex, which include, among others, the potential project to build a polyethylene (PE) facility with an annual capacity of 1,250 kt, and the 500 ktpa polypropylene (PP) plant that is currently under construction. SIBURs share in both JVs stands at 40%.

The Company will enter into the joint ventures after all necessary regulatory approvals are obtained and the PP facility is put into operation.

Dmitry Konov, Chairman of the Management Board at SIBUR Holding: "SIBUR consistently develops its petrochemicals business and has a vast expertise in building, commissioning and operating world-scale petrochemical complexes. This, combined with our partners extensive experience in developing and running large oil and gas production, transportation and refining facilities, will give our joint ventures a competitive edge on the global market, adding new capacities to our asset portfolios. The launch of new facilities will also boost domestic polymer consumption in Kazakhstan and other member states of the Eurasian Economic Union and improve export potential of high value-added products thanks to SIBURs existing infrastructure and competencies."

Alik Aidarbayev, Chairman of the Management Board at KazMunayGas:"KazMunayGas has been commissioned by the Kazakh government to develop national petrochemicals industry. This year, in the run-up to the 30th anniversary of the countrys independence, we are completing the construction of a PP facility scheduled for launch in early 2022. With the next step being the PE project, we believe SIBUR to be a reliable partner possessing the necessary expertise and technology. Moreover, this cooperation will enable Kazakhstan to enter new sales markets."

As per MRC, SIBUR International and TAIF Group have finalised a deal to merge and create the largest petrochemical company in the country and one of the biggest in the world.

Earlier it was reported that the European Commission approved the deal on 1 October.

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.) .
Author:Anna Larionova
Tags:petroleum products, PP, PE, neftegaz, petrochemistry, KazmunayGaz, Sibur Holding.
Category:General News
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