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Rosneft and Sinopec sign MOU for oil and gas cooperation

by ChemOrbis Editorial Team -
  • 22/12/2015 (11:15)
According to a press release on the company’s website, Russia’s Rosneft signed a memorandum of understanding (MOU) with China’s Sinopec to cooperate in oil and gas projects to be developed in East Siberia.

The MOU envisages potential gas and petroleum chemicals joint ventures and also includes petrochemical projects designed to convert natural gas to ethylene and propylene along with integrated polymer plants.

The integrated petrochemical projects in Boguchany (Krasnoyarsk Territory) and Angarsk (Irkutsk region) are expected to have a production capacity of up to 3 million tons/year of ethylene and around 6 million tons/year of polymers and other petrochemical products. Outputs of the planned projects are slated to be used primarily in Russian and Chinese markets.
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