MOSCOW (MRC) -- The St. Petersburg-headquartered Russian oil and gas company Gazprom Neft has signed an agreement with France-based Total to form a joint venture to produce and sell modified bitumen and bitumen emulsions on the Russian market, reported Hydrocarbonprocessing with reference to Gazprom Neft's statement.
Each partner will have a 50% stake in the joint venture, which will build a special production facility at Gazprom Neft's Moscow oil refinery.
The facility will have a capacity of 60,000 tonnes of polymer modified bitumens and 7,000 tonnes of bitumen emulsions per year.
We remind that, as MRC informed previously, in late 2012, Gazprom Neft and a Russian petrochemicals producer SIBUR with a head office in Moscow will collaborate in the polymer road materials production and marketing. SIBUR will deliver styrene-butadiene-styrene (SBS) polymers to the facilities of Gazprom Neft. The materials are applied in the polymer-bitumen binders (PBB) manufacturing to improve the quality characteristics of the road surface and extend its service life.
MRC