We use cookies
to help provide you with a good experience on our website. By continuing to browse the website, you are agreeing to our use of cookies.

Sibur eyes 40% stake in Kazakh gas chemical complex


Sibur eyes 40% stake in Kazakh gas chemical complex

SIBUR, Kazakhstan’s national welfare fund Samruk-Kazyna, and KazMunayGas have signed a framework agreement for potential cooperation in petrochemical industry in the special economic zone National Industrial Petrochemical Technopark in Atyrau, the Republic of Kazakhstan - the company reports on its website.

This cooperation could allow the Russia's largest petrochemical producer to take a role in petrochemicals projects set to add nearly 2m tonnes/year of polymer capacity in the country.

In accordance with the agreement, the parties will consider the possibility of SIBUR’s engagement in the ongoing project for construction of an integrated gas chemical complex to produce polypropylene with an annual capacity of 500 kt. Also, SIBUR may take part in another pending project to build a polyethylene facility with an annual capacity of 1,250 kt.

SIBUR has a unique track record of large-scale investment projects in petrochemicals and is keen to expand its petrochemical business, including by tapping into new markets. We would be happy to share with our partners our expertise in launching projects and operating world-class polymer facilities.

Dmitry Konov, Chairman of the Management Board, SIBUR Holding

The partners are expected to make a decision on joint participation in the projects by the end of 2021, following SIBUR’s assessment of their economic feasibility. (Sibur)

If SIBUR confirms its participation in the project, we will have a reliable partner essential for implementation of so significant for our country a project. I would like to emphasise that the project will enjoy our comprehensive support. We will do our best to make sure it succeeds.

Alik Aidarbayev, Chairman of the Management Board, KazMunayGas

The special economic zone “National Industrial Petrochemical Technopark” in the Atyrau region was established by Decree of the President of the Republic of Kazakhstan in 2007.

Its key goal as declared on the website - development and implementation of breakthrough investment projects for the creation and development of world-class petrochemical plants for deep processing of hydrocarbon raw materials and the production of a wide competitive petrochemical products with high added value

Relevant news

Sibur expects Chinese banks to participate in financing of Amur complex construction
The plant will be ready for pre-commissioning and commissioning in time for the construction of the fourth production line of Gazprom’s Amur GPP (no sooner than 2024)
Petchem production rose by 155% in Kazakhstan last year
Petrochemical production rose by 155% in Kazakhstan in 2020 compared to the previous year.
RusKhimAlyans, Linde, and Renaissance Heavy Industries entered into an EPC contract
In line with the agreements achieved the consortium intends to begin operations at the construction site in June 2021.
Russia fights to keep course on carbon and renewables amid budget squeeze
Russia’s next phase of renewable energy development looks like it won’t be as well-funded by the state as planned. That said, the announced cuts could have been worse, and corporates are stepping up plans to mitigate carbon, reports NEO.
Russian SIBUR announced Full Year 2020 financial & operating results
SIBUR announced today its operating & financial results for the Full-Year 2020.
Sibur, Gazprom Neft and Uzbekneftegaz consider investing in Shurtan Gas Chemical Complex
The cooperation agreements were signed by the 2 Russian companies and Uzbekneftegaz last week during an official visit to Moscow by a delegation from Uzbekistan’s energy ministry.