SIBUR and Gazprom agree on long-term supply contract

Feb 13, 2012 12:00 AM

SIBUR Holding and Gazprom have signed a long-term contract to supply natural gas liquids (NGL) from the Surgut Condensate Stabilisation Plant to the Tobolsk-Neftekhim facility up to 2021.
The annual supply of NGL between 2012 and 2016 will increase from 440,000 tons to more than 1 mm tons. Agreement on the volumes of hydrocarbon feedstock to be supplied in subsequent years will be reached at a later date.

The
contract provides for formula pricing with reference to market conditions for NGL product processing and the cost of transportation and NGL fractionation.
In
addition, the parties agreed to continue talks on supplying hydrocarbon feedstock to SIBUR gas-petrochemical enterprises located in other regions of Russia.

Dmitry
Konov, Ceo of SIBUR, said:Issues surrounding long-term raw material supplies are important for the companys investment development."
"
Through a strategic partnership with Gazprom and other leading oil and gas companies, SIBUR is able to multi-source light hydrocarbons, providing a base for the sustainable growth of petrochemical production.

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