Sibur and Gazprom sign long-term supply contract for petrochemical plants

15-Feb-12
CJSC SIBUR Holding and OJSC Gazprom have signed a long-term contract to supply natural gas liquids (NGL) from the Surgut Condensate Stabilisation Plant to the Tobolsk-Neftekhim facility up to 2021. The annual supply of NGL between 2012 and 2016 will increase from 440,000 tons to over 1 mln tons. Agreement on the volumes of hydrocarbon feedstock to be supplied in subsequent years will be reached at a later date. The contract provides for formula pricing with reference to market conditions for NGL product processing and the cost of transportation and NGL fractionation. n addition, the parties agreed to continue talks on supplying hydrocarbon feedstock to SIBUR gas-petrochemical enterprises located in other regions of Russia. Dmitry Konov, CEO of SIBUR, said: “Issues surrounding long-term raw material supplies are important for the company’s investment development. Through a strategic partnership with Gazprom and other leading oil and gas companies, SIBUR is able to multi-source light hydrocarbons, providing a base for the sustainable growth of petrochemical production”.
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