Rosneft, Pirelli signed joint venture agreement synthetic rubber production

Rosneft, Pirelli form JV for synthetic rubber production

11:11 AM, 20th October 2014
Rosneft, Pirelli signed joint venture agreement for synthetic rubber production

NAKHODKA, RUSSIA: Rosneft and Pirelli signed a Memorandum of understanding in the area of R&D, producing and shipping of synthetic rubber in the city of Nakhodka in the framework of the FEPCO (Far East Petrochemical Company) petrochemical cluster.

Within the signed memorandum, Rosneft and Pirelli specified the requirements for the engagement of a third party acting as a technological and production partner. Moreover Rosneft and Pirelli claim their intentions of using FEPCO petrochemical cluster, which is situated in Nakhodka, for synthetic rubber production for the purpose, among other things, of supplies to Pirelli’s own tire production facilities in South-Pacific region. Above all, Rosneft and Pirelli show intention to develop research, design and experimental projects in this area in Nakhodka.

Styrene butadiene rubber, which is supposed to be produced there, is an environmentally-friendly material, which is used in production of so called “green tires.” It improves adherence on both wet and dry road and helps to reduce fuel consumption.

“The execution of this Memorandum represents a unique growth opportunity for Rosneft in the high-margin petrochemical field. Joint research and cooperation in the field of production and marketing will allow Rosneft and Pirelli to maximize the efficiency of the project and will let the parties develop and implement marketing know-how and acquire new competencies,” said Igor Sechin, Head of Rosneft.

Related News - Rosneft, Sibur JV for associated petroleum gas, dry gas supplies

 

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