Rosneft and Sinopec Group have signed a MoU to cooperate on gas and petroleum chemicals projects to be developed in East Siberia.
As per a Roseneft press release, the document was signed by Rosneft chairman Igor Sechin and Sinopec Group chairman Wang Yupu in the presence of the Prime Minister of Russia Dmitry Medvedev during his visit to China.Rosneft and Sinopec Group have signed a MoU to cooperate on gas and petroleum chemicals projects to be developed in East Siberia.As per a Roseneft#
According to Rosneft, the agreement will boost the cooperation of Rosneft and Sinopec in the area of the development of the Yurubcheno-Tokhomskiy hydrocarbon cluster's resource base.
The document envisages a detailed pre-feasibility and concept design study with respect to a potential gas and petroleum chemicals joint venture.
The scope of the envisaged venture may include a conversion of natural gas and its liquid fractions to ethylene and propylene with an integrated production of high-performance polymers and co-polymers.
“The processing capacity of the integrated complex in Boguchany in Krasnoyarsk and Angarsk in Irkutsk is expected to be up to 10 BCM of natural gas per annum,” Rosneft said.
It will also have an annual output of up to 3 million tons of ethylene and around 6 million tons of polymers and other petrochemicals totally. (AR)
ALCHEMPro News Desk – India
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