SIBUR, Samruk-Kazyna & KazMunayGas Sign Agreement for Petrochemicals

Source: www.gulfoilandgas.com 6/4/2021, Location: Asia

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.

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.

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.

Dmitry Konov, Chairman of the Management Board at SIBUR Holding:

“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, Chairman of the Management Board at KazMunayGas:

“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.”


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