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SIBUR and TNK-BP Expand Their APG Processing Joint Venture

February 04/2011

(SIBUR) -- SIBUR and TNK-BP have agreed to expand their joint venture, Yugragazpererabotka LLC, by merging Nyagangazpererabotka LLC, a gas processing entity, held until this time by the petrochemical holding, with and into the JV.

Upon integration of this asset, the general principles of associated petroleum gas (APG) deliveries to Nyagangazpererabotka, as well as those governing gas processing services and product sharing, will be aligned with the terms and conditions agreed at the time of Yugragazpererabotka establishment.

Nyagangazpererabotka is currently capable of processing up to 2.14 bcma of associated petroleum gas. In  2010, the entity processed 1.3 bcma of APG, producing 1.18 bcm of dry lean gas, 88 ktons of straight-run gasoline, and 247 ktons of liquefied petroleum gas used mostly as fuel in utility/household and motor vehicle applications.

Once Nyagangazpererabotka has become part of the JV, APG deliveries from TNK-BP fields will grow from 0.9 bcm in 2010 to over 1.3 bcm by 2013. Therefore, the entity"s total APG throughput will exceed 1.7 bcm in 2013.


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