Rosneft signs agreement with Sibur supplies associated petroleum gas valid through 2032

Rosneft, Sibur JV for associated petroleum gas, dry gas supplies

6:51 AM, 8th March 2014
Rosneft signs agreement with Sibur

MOSCOW, RUSSIA: Rosneft and Sibur have signed an agreement for supplies of associated petroleum gas (APG) from Rosneft’s fields to Nizhnevartovskiy, Belozerniy and Nyagangazpererabotka gas processing plants (GPPs), and a contract for sales of dry gas from Nizhnevartovskiy and Belozerniy GPPs to Rosneft. The new contract arrangements will come into effect on 1 April 2014 and will be valid through 2032.

Sibur has also completed the purchase of the 49 per cent stake in Yugragazpererabotka, which owns and operates Nizhnevartovskiy, Belozerniy and Nyagangazpererabotka GPPs, from RN-Holding, Rosneft’s subsidiary. As a result of the transaction, Sibur has gained full control of Yugragazpererabotka.

“These are integrated deals that enable both Rosneft and Sibur to optimise their asset portfolio while securing a strategic partnership in gas processing and petrochemistry and benefitting from long-term synergies. As announced at the end of last year, we will use proceeds from the deal to further reduce our debt,” said Igor Sechin, President and Chairman of the Management Board, Rosneft.

 

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