Sibur inks partnership agreements with TNK-BP to jointly to exploit gas feedstocks

01-Aug-12

Russia’s number one petrochemicals group Sibur has signed a set of strategic partnership agreements with the country’s third ranked oil producer, TNK-BP allowing the firms jointly to exploit gas feedstocks, as per Europeanplastinews. TNK-BP, a Russo-British partnership including the UK oil giant BP, and Sibur have agreed to extend their joint venture Yugragaspererabotka, formed in 2007, to 2026. The venture operates the Russian Nizhnevartovskiy and the Belozerniy gas processing complexes, the gas processing company Nyagangaspererabotka, along with pipeline infrastructure. Also, Sibur plans to acquire a 25% stake in the Zaykinsky gas processing facility in 2013 when a modernisation and construction project at the plant is complete. Additionally, the partners are in negotiations over a deal that could see Sibur buying the propane/butane mix that will be produced by the Rospan project. The Rospan company, a TNK-BP offshoot, is a gas producer in Urengoy, in the Yamalo-Nenets region in the far north of central Russia. It operates in five gas fields there. The parties will jointly manage the gas processing plant and its infrastructure while investing in production capacity expansion and equipment upgrades.