Tag Archives | russia

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Europe’s chemical sector benefit from more of Gazprom’s Russian gas

The news that Russia’s Gazprom is expanding storage terminals across Europe in anticipation of increased supplies could be good news for Europe’s chemical industry, which relies heavily on natural gas for power generation.  Gazprom is almost doubling its underground storage capacities for gas by 2015 to nearly 4.9 billion cubic meters (bcm) and by next […]

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China to Russia crude pipeline starts operating

To ease the chronic shortage of crude oil in China, trial operations began on 1 November at the recently completed 1,030km-long Sino-Russian crude pipeline, Chinese state-run media Xinhua News Agency said on Tuesday. Crude was injected into the pipeline from the Russian section on Monday afternoon and is scheduled to arrive in China today. China […]

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ITAR-TASS: MOSCOW, RUSSIA. SEPTEMBER 9, 2010. Russian PM Vladimir Putin (C) at a session of the Russian government s presidium. (Photo ITAR-TASS/ Maxim Shemetov) Photo via Newscom

Putin commits to Russian petrochemical development

Russian prime minister, Vladimir Putin, pledged yesterday to speed up development of the country’s petrochemical sector by removing barriers to new project development. ICIS news reports Putin said the authorities should remove “all administrative and infrastructure barriers” that hinder development of the petrochemical industry, speaking to a top-level meeting in the Nizhny Novgorod region on Monday. The […]

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Russia chemical markets on road to recovery

Russia’s economy and chemical industry were hit hard by the downturn, as oil and gas prices plummeted, the main generator of wealth for this country. Oil prices, though faltering slightly at present, have recovered well and with it the economy. Figures I’ve obtained from Andrew Sparshott at consultancy Cirec show much basic chemical production for […]

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Belarus gas cuts hit chemicals industry

The spat between Russia and Belarus is leaving many in the chemical industry in central and eastern Europe feeling very nervous. Fertilizer producers, in particular, rely on natural gas as a feedstock. And yesterday, Belarusian fertilizer producer Grodno Azot warned that it could be forced to shut down following the natural gas supply cuts from […]

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Sibur presentation reveals impact of Russian economic crisis

Russian chemical major Sibur has had to endure collapsing domestic demand in Russia, like all its peers. In an interesting presentation (see below), given by Viktor Viehweg, the company’s head of strategic development, he reveals the threats and opportunities posed by the crisis (see slide page 9). Sibur is threatened by falling demand for products, […]

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Annual general shareholders’ meeting of Gazprom

Gazprom strikes gas deal with China

Russian gas giant Gazprom has signed an initial contract to supply China with natural gas. The news may peturb those chemical companies in central and eastern Europe who are nervous about reliable gas supplies this winter, particularly those who rely on gas flowing through Ukraine.Last winter large parts of the chemical sector in Ukraine and […]

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Russia chemical imports plunge

It looks like Russia’s economy is still in the doldrums. The country imports a lot of non-commodity chemicals as the industry there is not highly specialised.According to the Kyiv Post, for the first six months of 2009 there was a 37.8% drop in purchases of polymers and rubber; soap and synthetic cleaning materials fell by […]

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Sibur gives up plans for MBO

The Russian chemical major said today it will not relaunch plans for management buyout. According to ICIS news, its CEO Dmitry Konov ruled it out due to the recession. He said the $5.4bn deal is now “off the agenda”.I remember the last time Sibur managers tried to do an MBO, back in 2002. It all […]

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What is this blog for?

Why this blog?In my early days as a news reporter, central and eastern Europe plus Russia was part of my beat. I still have a keen interest in this region so it makes sense to have a way of gathering news together and commenting on it.In the early 2000′s when I started looking at this […]

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