Chinese Sinopec, Russian Sibur agree to deepen cooperation

Witnessed by the Chinese President Xi Jinping and the Russian President Vladimir Putin, China Petrochemical Corporation (Sinopec Group) and Sibur on May 20 entered into a strategic cooperation agreement during a state visit of President Putin to China, Sibur’s press office has said. The arrangements provide for both parties to deepen strategic cooperation.

As part of the cooperation, the parties will discuss potential expansion of trading operations and look into collaboration opportunities in gas processing and petrochemicals projects.

Sibur commented, “The partnership between Sibur and Sinopec, a global chemical industry leader, will enable Sibur to maximise the efficiency of new large-scale projects, expand its competencies and distribution markets, and support the Russian petrochemical industry in achieving a new level”.

Source: Sibur Press Office, 2014