Rosneft, Sinopec conduct pre-feasibility study petrochemical complex in Russia

Rosneft, Sinopec to conduct pre-feasibility study for petrochemical complex in Russia

9:52 AM, 28th June 2016
Rosneft, Sinopec to conduct pre-feasibility study for petrochemical complex in Russia

MOSCOW, RUSSIA: Rosneft and China Petrochemical Corporation (Sinopec Group) have signed a framework agreement on joint pre-feasibility study of the project related to the construction and operation of a gas processing and petrochemical complex in East Siberia, Russia.

The document was signed in the presence of Russian President Vladimir Putin and Chinese President Xi Jinping by Rosneft CEO Igor Sechin and chairman of Sinopec Group Wang Yupu.

The agreement signed in furtherance of the memorandum of understanding (MOU) on cooperation in petrochemical projects, provides for selecting a technology for natural gas processing from its components to polymers. The parties also decided to choose a consultant for the project management and identified competitive challenges and the time to fix them before entering the stage front-end engineering design (FEED). In the event of successful outcomes as stipulated by the framework agreement, it is supposed to create a joint venture between Rosneft and Sinopec in 2017.

The project will meet the growing demand for polyethylene and polypropylene in Russia and in China. It is assumed that the annual capacity of the new complex near the administrative centre of Boguchany District will be 5 BCM of gas yielding up to 3 mln tonnes of polymers and petrochemical products primarily for sale on the Russian and Chinese markets. The resource base of the project comprises Rosneft oil and gas fields of Yurubcheno-Takhomsky cluster in East Siberia.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Covestro, Tekmar to protect offshore wind farms in China

LEVERKUSEN, GERMANY: Covestro AG and Tekmar Energy Ltd have signed a cooperation agreement on a high-performance and durable subsea cable protection f ...

Read more
Monsanto, Sumitomo to focus on next generation weed control solutions

ST LOUIS, US: Monsanto Company and Sumitomo Chemical Company Ltd have signed a global agreement that will focus on developing and delivering next-gene ...

Read more
Lanxess unveils new fall, winter season leather trends

COLOGNE, GERMANY: Lanxess AG has unveiled its new leather trends for the upcoming 2017/18 season. The articles it is presenting reflect the future of ...

Read more
Companies need to actively declare scheduled chemicals

In an interview R Narayanan, Advisor, CWC Help Desk, ICC Southern Region with Shivani Mody, Editor, Chemical Today magazine, during a Chemical Weapons ...

Read more
PPG unveils 2017 colour of the year: violet verbena

CRANBERRY TOWNSHIP, US: PPG Industries has unveiled its 2017 colour of the year: violet verbena, a grayed-off, moody purple with a chameleon-like pres ...

Read more
Archroma launches new concentrated OBA for papermakers

REINACH, SWITZERLAND: Archroma has extended its range of cost-effective, concentrated optical brightening agents (OBAs) for printing and writing paper ...

Read more