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Provider: Reuters Investment Profile
Provider: Reuters Investment Profile
Provider: Investcafe
Provider: Thomson Reuters StreetEvents

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Sibur buying 49 pct of JV Yugragazpererabotka from NK Rosneft' OAO-Interfax

Thursday, 20 Feb 2014 11:49pm EST 

NK Rosneft' OAO:Rosneft and OJSC Sibur Holding have struck an agreement whereby Sibur will buy Rosneft's 49 percent stake in their joint venture Yugragazpererabotka, which is held by OJSC RN-Holding thereby increasing its ownership to 100 percent-Interfax.Rosneft and Sibur Holding struck an agreement on increasing guaranteed provision of associated petroleum gas from Yugragazpererabotka plants working the oil company's deposits to 10 billion cubic meters a year to 2032, inclusive.APG will be supplied to Yugragazpererabotka processing plants at a price formula that calls for indexation in line with the growth prices for the products of APG processing, dry stripped gas and natural gas liquids.The agreement also calls for Sibur to sell dry stripped gas produced at the Nizhnevartovsk and Belozerny gas processing plants (GPP) back to Rosneft.Rosneft, in turn, will not implement investment projects aimed at "impoverishing" the composition of APG supplied to Yugragazpererabotka GPP.Sibur will ensure receipt of all APG from Rosneft, as well as expand two compressor stations, the statement said.The deal will be closed after all necessary approvals are received. 

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