News Code : 43172

Petrotahlil :Russian giants Sibur and Gazprom Neft have acquired the full ownership of Omsk-based Poliom, one of the largest polypropylene manufacturers in the country.

Rated at 218 kilotonnes per annum, Poliom was co-owned by the Titan Group (50%) and a Sibur-Gazprom Nef 50:50 joint venture operation Sibgazpolimer.

In a 19 July statement, Sibur said that Sibgazpolimer is now the sole owner of Poliom, which is to be operated jointly by Sibur and Gazprom Neft.

Launched in 2013, Poliom manufactures advanced products with a mix of some 100 grades.

Gazprom Neft’s Omsk refinery supplies propane-propylene fraction to the plant, while Sibur helps distribute its end-products in Russia and the CIS.

“Sibur is committed to developing its polymer business as the demand in Russia and all over the world keeps growing ahead of global economy,” said Sergey Komyshan, Sibur’s management board member and executive director.

Following the build-up of its stake in Poliom, Sibur said it would focus on the development of the site as well as product distribution.

“Sibur has a unique expertise to expand the facility’s polymer range and meet the demand of various processors through streamlined solutions,” added Komyshan.

The move is also an important milestone in Gazprom Neft’s long-term strategy, which is focused on developing petrochemical production, according to Levan Kadagidze, head of the commercial directorate at Gazprom Neft.

The integration of oil refining and petrochemical assets will help the company add value and boost its competitive edge, Kadagidze added.

The Omsk polypropylene plant, according to the Titan Group, has “robust process control systems” with products that are ‘fully in line with world standards.’

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