25-07-2012
SIBUR signs strategic partnership agreements with TNK-BP
The Chairman of the Board of Directors of SIBUR Holding Leonid Mikhelson, Executive Director of TNK-BP German Khan and Chairman of the Management of SIBUR Holding Dmitry Konov have signed a set of agreements on strategic partnership between the companies in the areas of production, refining and utilization of hydrocarbon feedstock.
The companies reached agreement on the indefinite continuation of their Yugragazpererabotka joint venture. Contracts under the framework of the joint venture have been extended through the end of 2026.
Additionally, SIBUR and TNK-BP have agreed on SIBUR's acquisition of a 25% share of the Zaikinsky Gas Processing Facility (Zaikinsky GPF) in 2013, following the modernization and construction of new installations onsite. Following SIBUR's entrance into the Zaikinsky GPF project the companies will jointly manage the enterprises and infrastructure, as well as invest in capacity expansion and modernization. Zaikinsky GPF and the associated infrastructure will function as an independent joint venture.
The parties are also engaged in negotiations about SIBUR possibly purchasing liquefied petroleum gas, the production of which is envisioned on the framework of the Rospan project.
The parties intend to continue cooperation in the area of TNK-BP's application of SIBUR's fuel component products and other petrochemical products within the framework of existing contracts.
“The successful work of our Yugragazpererabotka joint venture allows us to look at our future partnership with optimism,” said Chairman of the Board of Directors of SIBUR Holding Leonid Mikhelson. “SIBUR continues to expand its resource base not only with associated gas, but also through the processing of natural gas in our petrochemical production. Effectively, our companies are directly involved in the important area of high-level processing of hydrocarbon resources in Russia.”
“The creation of the Yugragazpererabotka JV in 2007 has enabled our companies to significantly increase the utilized volumes of TNK-BP's associated gas. Our partnership with SIBUR plays an important role in solving our high-priority task of increasing utilization of this raw material up to 95% by 2015,” said Executive Director of TNK-BP German Khan. “Today we are commencing a new stage in the partnership between TNK-BP and SIBUR. The large-scale gas-refining projects in the Orenburg region and the development of the Rospan assets will open up new opportunities for our joint business and will efficiently solve the problems of properly utilizing associated gas not only in western Siberia, but also in other oil-producing regions of the country.”
News Category:
-
Beyond processbook & PI vision: Exploring today’s industrial analytics tools
(Webinar) - In the Manufacturing 4.0 era, industrial organizations have more data at their fingertips than ever, offering the promise of higher production rates, more ...
04-06-2024
-
Sasol provides state of the art catalysts to INERATEC for the production of sustainable e-fuels
The catalysts will be used, among others, in the first large-scale industrial Power-to-Liquid (PtL) plant that INERATEC is currently building in Frankfurt, Germany, which ...
24-04-2024
-
Baker Hughes to supply 17 centrifugal compressors to Saudi Master Gas System project
Baker Hughes, an energy technology company, announced Tuesday that it has received an order by Worley, for and on behalf of Aramco, to supply gas technology equipment ...
23-04-2024
-
SABIC Fujian Petrochemicals select Phenol yechnology from KBR
KBR announced today it has been awarded a contract by SABIC Fujian Petrochemicals to license KBR's market-leading phenol technology in China. Under the terms of the ...
22-04-2024
-
Lummus Expands R&D capabilities to enhance innovation and water and wastewater technologies
Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced the opening of its cutting-edge research and development (R&D) ...
17-04-2024
-
Clariant launches new CATOFIN® 312 propane dehydrogenation catalyst
Clariant, a sustainability-focused specialty chemical company, today announced the launch of CATOFIN 312, its latest propane dehydrogenation catalyst. The new catalyst ...
16-04-2024
-
Yokogawa and GridBeyond conclude investment and strategic partnership agreements
Yokogawa Electric Corporation and energy IT solutions provider GridBeyond of Ireland announce that they have concluded a strategic partnership agreement. Furthermore, ...
16-04-2024
-
Heraeus Precious Metals launches Circlear
Heraeus Precious Metals, a globally leading company in the precious metals industry and one of the largest recyclers of precious metals, has introduced its new offering ...
16-04-2024
-
EMA and JERA to cooperate on LNG procurement and supply chains
The Energy Market Authority and JERA Co Inc, have signed a Memorandum of Understanding to cooperate on mutually beneficial areas in liquefied natural gas procurement ...
16-04-2024
-
Hexagon and Dragos unveil technical partnership to strengthen industrial cybersecurity
Hexagon’s Asset Lifecycle Intelligence division today announced a strategic partnership with Dragos, a global leader in cybersecurity for operational technology (OT). ...
16-04-2024