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Provider: Reuters Investment Profile
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Novatek OAO Eyes Hydrocarbon Contracts With Sibur-Interfax


Wednesday, 19 Dec 2012 01:02am EST 

Interfax reported that Novatek OAO NOVATEK has suggested that its shareholders approve several twenty-year deals with Sibur involving the supply of products obtained via the refining of gas and gas condensate. A draft decision for a NOVATEK extraordinary shareholders meeting slated for January 9 proposes the approval of an agreement for the sale of broad fractions of light hydrocarbons to Sibur in the period from 2014 to 2033. Delivery volume would be not more than 36 million tons of product, and the price tag on the deal RUB 410 billion (with 18% VAT). Another deal on the table for the shareholders is an agreement to sell Sibur liquefied hydrocarbon gases in an amount not to exceed 8 million tons in the period 2014-2033. The cost of the deal is to be no more than RUB 100 billion (including 18% VAT). Also, NOVATEK plans to clinch a contract with Sibur for the transportation of broad fractions of light hydrocarbons by product pipeline from the Purov condensate processing plant belonging to NOVATEK to Tobolsk-Neftekhim belonging to Sibur, and another concerning the refining of broad fractions at Tobolsk-Neftekhim facilities. There will be no more than 24 million tons of broad fractions of light hydrocarbons transported and processed in the period 2014-2033. The cost of the proposed deal is not over RUB 36 billion (including VAT). 

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