Samruk-Kazyna, KazMunayGas and SIBUR sign agreements on baseline conditions of cooperation on oil-and-gas chemistry projects in Kazakhstan
During the XIV KAZENERGY Eurasian Forum, Samruk-Kazyna Joint-Stock Company, National Company “KazMunayGas” and SIBUR signed agreements on the baseline conditions of cooperation on oil-and-gas chemistry projects on the territory of “National Industrial Petrochemical Park” Special Economic Zone in Atyrau.
According to the documents signed, the parties have established the terms and conditions of creating joint ventures on the premises of the integrated gas-based petrochemical complex. In particular, we are talking about the project for construction of a polyethylene production plant with the capacity of 1,250 thousand tons annually, and the polypropylene production plant with the capacity of 500 thousand tons annually, which is currently under construction. SIBUR's participatory interest in both joint ventures will be 40%.
SIBUR's participation in the joint ventures will be realized after all necessary regulatory endorsement are obtained and the polypropylene production complex is commissioned.
Chairman of Management Board of JSC NC "KazMunayGas” Alik Aidarbayev:
“Following the instruction of the nation's leadership, KazMunayGas is working on he creation of the national oil-and-gas chemistry industry. This year, on the threshold of the 30th anniversary of Independence of the Republic of Kazakhstan, we are completing construction of a polypropylene production plant, schedules for start-up in early 2022. The next step of these efforts will be the implementation of the polyethylene production project. It should be noted that beginning to cooperate with SIBUR, we now have a reliable partner, possessing the necessary expertise and technology. Furthermore, this cooperation will enable opening additional market places for Kazakh products”.
Chairman of Management Board of PAO SIBUR Holding Dmitry Konov:
“SIBUR progressively develops the oil-and-gas chemistry business, and has a wealth of accumulated experience in creating, launching and operating world-scale petchem complexes. Our accumulated expertise in launching projects and operating world-scale polymer complexes, combined with the extensive experience of the Kazakh partners in the construction and operation of major industrial facilities in oil and gas up-, mid- and downstream will make it possible to strengthen the positions of our joint businesses on the global market, adding new competitive capacity to our asset portfolios. The launch of the new capacity will also promote growth in the domestic consumption of polymer products in Kazakhstan and other EAEU countries, and will strengthen export positions in the high added value products, driven by SIBUR’s available infrastructure and competencies”.