Gazprom Examines Prospects of Setting Up Petrochemical Production Facilities in Joint Venture

Today at the Gazprom Headquarters Alexey Miller, Chairman of the Gazprom Management Committee, Dmitry Konov, President of Sibur Holding, Andrew Liveris, President, Chief Executive Officer and Chairman of the Dow Chemical Company have signed a Memorandum of Intentions in the area of high-value added hydrocarbon processing.

The document stipulates examination of prospects to set up a joint venture based on new petrochemical production facilities of the Dow Chemical Company in Germany, joint natural gas processing in the Valanginian deposits of the Yamal-Nenets Autonomous Okrug as well as examination of cooperation opportunities in other sectors.

The parties will create a working group to preliminary evaluate economic feasibility to set up a joint venture and to prepare a draft agreement for further joint technical and economic research.