Russia's SIBUR agrees long-term energy supply deal

05 February 2013 15:13  [Source: ICIS news]

MOSCOW (ICIS)--SIBUR has agreed terms with a major local utility company on long-term energy supplies, the Russia-based petrochemical company said on Tuesday.

SIBUR and Russia's Integrated Energy Systems (IES) signed a "strategic memorandum" aimed at improving power supplies to SIBUR's production facilities in Nizhny Novgorod, Perm, Samara, and other Russian regions, SIBUR said.

SIBUR also pledged to sign a 10-year contract with IES later this month on heating supply to RusVinyl, according to a company statement.

SIBUR is a co-founder of the RusVinyl plant currently under construction in Kstovo, Nizhny Novgorod region. RusVinyl is owned on parity basis by SIBUR and SolVin, in which Solvay owns 75% and BASF has 25%.

The €750m ($1.01bn) plant is due to produce 330,000 tonnes/year of polyvinyl chloride (PVC) and 235,000 tonnes/year of caustic soda. SIBUR said on Tuesday that the project is "over 70% completed."

($1 = €0.74)

By: Sergei Blagov
+44 20 8652 3214

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