PJSC Sibur Holding has signed additional agreements with Kazakhstan’s state-owned JSC NC KazMunayGas (KMG) and JSC National Welfare Fund Samruk-Kazyna to further explore joint ownership and development of grassroots petrochemical projects to be built as part of an integrated gas-to-chemicals complex (IGCC) at the National Industrial Petrochemical Technopark (NIPT) in Kazakhstan’s western Atyrau region (OGJ Online, Feb. 10, 2021).
Documents signed on Oct. 7 outline basic terms and conditions for creation of the IGCC’s two joint ventures that would cover future construction of a 1.25-million tonnes/year (tpy) polyethylene plant as well as Kazakhstan Petrochemical Industries Inc. (KPI) LLP’s 500,000-tpy polypropylene plant currently nearing completion, SIBUR and KazMunayGas said in releases.
While SIBUR’s participation remains contingent on receipt of all necessary regulatory approvals for the projects as well as commissioning of KPI’s Atrayu IGCC polypropylene plant, the operator said, if realized, it plans to take a 40% ownership interest in both JVs.
The October agreements follow the parties’ initial trilateral agreement under which SIBUR announced its initial consideration of joining as an Atyrau IGCC partner (OGJ Online, June 11, 2021).
While Atyrau IGCC’s second-phase polyethylene development program continues to await results of SIBUR’s study on its economic efficiency due by yearend, Alik Aidarbayev, chairman of KMG’s board, said construction of KPI’s polypropylene plant is progressing as planned, with startup still on schedule for early 2022.