Sibur signs gas supply deal with Kazanorgsintez

04 June 2007 11:11  [Source: ICIS news]

MOSCOW (ICIS news)--Russia's largest petrochemical holding Sibur, acting on behalf of Gazprom, has signed a new gas supply contract with the country's major polyethylene (PE) producer, Kazanorgsintez.

 

Under the agreement, from 1 June 2007 till 1 February 2008, Orenburggazprom would supply 139,000 tonnes of ethane to Kazanorgsintez, Sibur said in a statement over the weekend.

 

According to the contract, no less than 50% of ethane would be supplied for processing and in return Kazanorgsintez would supply to Sibur its finished product, polyethylene.

 

In early March, Gazprom's subsidiary Orenburggazprom and Sibur stopped ethane supplies to Kazanorgsintez.

 

Sibur said on 15 May that gas supplies were discontinued because of breach of processing contract by Kazanorgsintez and threatened legal action.

By: Sergei Blagov
+44 20 8652 3214

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