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SIBUR plans to participate in the construction of a gas chemical complex in Kazakhstan

Russian petrochemicals company and Kazakh Samruk-Kazyna, KazMunayGas sign framework agreement for cooperation in petrochemicals. Kazakhstan has the world’s 12th-largest proven oil reserves, and is 14th for gas

SIBUR plans to participate in the construction of a gas chemical complex in Kazakhstan

St. Petersburg, June 4 - Neftegaz.RU. 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, Kazakhstan.

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.
Dmitry Konov, SIBUR CEO commented:
  • 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
  • Our partners have extensive experience in constructing and operating large facilities in the oil and gas production, transportation and processing and will in turn be able to support the projects with the necessary raw materials and infrastructure within the special economic zone
Alik Aidarbayev, CEO of KazMunayGas, said:
  • 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
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.

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