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KMG, SIBUR and Sinopec signed a protocol among shareholders in relation to project Silleno

02.07.2024

On July 2, in Astana, during the 7th meeting of the Kazakh-Chinese Business Council, NC KazMunayGas JSC (KMG), SIBUR Holding PJSC, and Sinopec Overseas Investment Holding signed a Protocol among shareholders in relation to project Silleno.

The parties confirmed their intention to align the final investment budget to execute project "Silleno" – the construction of the first integrated gas chemical complex for polyethylene production with a capacity of 1.25 million tons in Atyrau region.

The document was signed by Askhat Khassenov, Chairman of the Management Board of NC KazMunayGas JSC, Mikhail Karisalov, Chairman of the Management Board – CEO of SIBUR LLC and Yongsheng Ma, Chairman of the Board of Directors of Sinopec.

In addition, the Protocol outlines the parties' commitment to ensuring the highest possible level of Kazakhstani content in the design, procurement of equipment and materials, and construction during the implementation of the project, taking into account economic and technical feasibility.

The polyethylene production project is a crucial stage in the development of the petrochemical industry. Its implementation will have a multiplier effect on the country's economy, leading to an expected GDP increase of 1.2% and creating new opportunities for small and medium-sized businesses in the production of polyethylene products. Every dollar invested in the petrochemical industry ultimately boosts the country's economy by 2-3 dollars.

In total, approximately 8,000 new jobs are planned to be created during the construction stage, and around 800 more during the plant operation stage.

Polyethylene is a versatile polymer used in the production of numerous products, including pipes, construction and packaging materials, automotive components, medical equipment, and other goods widely utilized in everyday life and various industries.

Background:

National Company KazMunayGas JSC (KMG) is Kazakhstan's leading vertically-integrated oil and gas company. KMG is managing assets throughout the entire production cycle, ranging from exploration and production of hydrocarbons to transportation, refining and provision of specialized services. The company, founded in 2002, represents Kazakhstan in the country's petroleum sector.

SIBUR Holding PJSC (SIBUR) is one of the most dynamically developing companies in the global petrochemical industry and the Russian leader in the production of polymers and rubbers. In March 2023, SIBUR officially joined the Polyethylene project.

Sinopec is a vertically integrated energy and petrochemical corporation and the second-largest chemical company in the world, following BASF. In March 2024, Sinopec officially became a member of the project.

Sileno LLP is the operator of the second phase of the construction project for the first integrated gas chemical complex in the Atyrau region (the Polyethylene Project). The partnership is a participant in the special economic zone "National Industrial Petrochemical Technopark," where the project is being implemented.


JSC NC KazMunayGas

On July 2, in Astana, during the 7th meeting of the Kazakh-Chinese Business Council, NC KazMunayGas JSC (KMG), SIBUR Holding PJSC, and Sinopec Overseas Investment Holding signed a Protocol among shareholders in relation to project Silleno.

The parties confirmed their intention to align the final investment budget to execute project "Silleno" – the construction of the first integrated gas chemical complex for polyethylene production with a capacity of 1.25 million tons in Atyrau region.

The document was signed by Askhat Khassenov, Chairman of the Management Board of NC KazMunayGas JSC, Mikhail Karisalov, Chairman of the Management Board – CEO of SIBUR LLC and Yongsheng Ma, Chairman of the Board of Directors of Sinopec.

In addition, the Protocol outlines the parties' commitment to ensuring the highest possible level of Kazakhstani content in the design, procurement of equipment and materials, and construction during the implementation of the project, taking into account economic and technical feasibility.

The polyethylene production project is a crucial stage in the development of the petrochemical industry. Its implementation will have a multiplier effect on the country's economy, leading to an expected GDP increase of 1.2% and creating new opportunities for small and medium-sized businesses in the production of polyethylene products. Every dollar invested in the petrochemical industry ultimately boosts the country's economy by 2-3 dollars.

In total, approximately 8,000 new jobs are planned to be created during the construction stage, and around 800 more during the plant operation stage.

Polyethylene is a versatile polymer used in the production of numerous products, including pipes, construction and packaging materials, automotive components, medical equipment, and other goods widely utilized in everyday life and various industries.

Background:

National Company KazMunayGas JSC (KMG) is Kazakhstan's leading vertically-integrated oil and gas company. KMG is managing assets throughout the entire production cycle, ranging from exploration and production of hydrocarbons to transportation, refining and provision of specialized services. The company, founded in 2002, represents Kazakhstan in the country's petroleum sector.

SIBUR Holding PJSC (SIBUR) is one of the most dynamically developing companies in the global petrochemical industry and the Russian leader in the production of polymers and rubbers. In March 2023, SIBUR officially joined the Polyethylene project.

Sinopec is a vertically integrated energy and petrochemical corporation and the second-largest chemical company in the world, following BASF. In March 2024, Sinopec officially became a member of the project.

Sileno LLP is the operator of the second phase of the construction project for the first integrated gas chemical complex in the Atyrau region (the Polyethylene Project). The partnership is a participant in the special economic zone "National Industrial Petrochemical Technopark," where the project is being implemented.


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