Sino-Russian energy cooperation expands in depth

Sino-Russian energy cooperation is expanding in depth. Sinopec Corp. and Russia’s Sibur have signed a memorandum of cooperation concerning the establishment of two joint ventures in the future.

Prime Minister Vladimir Putin of the Russian Federation is currently visiting China. It is understood that the future two joint ventures will be established in Krasnoyarsk, Russia, and Shanghai, China, respectively, mainly to produce nitrile rubber, and to adopt the polymerization technology provided by Sibur.

Nitrile rubber is widely used in automotive, aerospace, oil exploration, petrochemical, textile, wire and cable, printing and food packaging due to its extremely oil-resistant physical and mechanical properties. According to the disclosure, the existing nitrile rubber plant in the city of Kyrgyzstan will be expanded from 41,000 tons/year to 56,000 tons/year, and Shanghai will build a new 50,000 tons/year nitrile rubber facility.

According to reports, Sinopec and Sibur also consider cooperation in the area of ​​isoprene rubber and other fields, including the supply of raw materials for natural gas and unconventional oil and gas resources in Russia and China, and agreed to discuss comprehensive cooperation on upstream and downstream integration. .

Currently, Sibur is the largest petrochemical holding company in Russia. Senior Sinopec stated that the above two joint venture projects will further strengthen Sinopec's good cooperative relationship with Xibuer, and it is also an important measure for Sinopec to expand its production capacity in order to serve the rapidly growing market demand in China.