NOVATEK signs framework agreement with SIBUR
27 February 2007, Moscow. OOO SIBUR President Dmitry Konov and OAO NOVATEK CEO Leonid Mikhelson have signed a framework agreement to establish a joint venture utilizing the production capacity of ООО
The newly established joint venture would specialize in dehydration processing of raw materials to produce up to 500 thousand tons of polypropylene per annum, as well as other products using the Plant’s polypropylene conversion process. NOVATEK would supply raw materials to the joint venture.
PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Upstream activities of the Company’s subsidiaries and joint ventures are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation.