BAKU, Azerbaijan, Nov. 30
Trend:
Chairman of the Management Board of KazMunayGas National Company (KMG) Alik Aidarbayev and General Director of PJSC Tatneft Nail Maganov signed an agreement on the joint venture Butadiene LLP, on the basis of which a project for the production of rubbers will be implemented, Trend reports citing KMG.
According to KMG, the planned capacity of the enterprise accounts for up to 180,000 tons of butadiene and butadiene rubbers per year. The shares of KMG and Tatneft are 25 percent and 75 percent, respectively. The preliminary cost of the project is estimated at about $1 billion, and the parties are considering options for financing the project, including through borrowed funds.
It is reported that the launch of production is scheduled for 2026 on the territory of the "National Industrial Petrochemical Technology park" small economic zone (SEZ) in the Atyrau region of Kazakhstan. During the construction period, about 2,000 jobs will be created at the site of the new production and more than 700 jobs will be created during the operation of the plant.
It is assumed that the raw materials will be supplied from the Tengiz and Korolev fields in Kazakhstan. The finished products are planned to be sent to a tire plant in the Karaganda region, as well as for export to European countries, Russia, China, Turkey, etc.
"In accordance with the Development Strategy, our company seeks to expand the value-added chain of its products and is actively developing the oil and gas chemical industry in Kazakhstan. The creation of a joint venture between KazMunayGaz and Tatneft is evidence of this. I am sure that the project will contribute to the establishment of a partnership between Kazakhstan and Tatarstan, and will also allow us to diversify the economy of our country," Aidarbayev said.
"Tatneft has big plans in petrochemistry, and we are glad to develop this direction together with our Kazakh partners. Kazakhstan is a strategic partner for us. We already have experience of interaction, with joint efforts now we are also building a tire plant in the Karaganda region, this is the practical implementation of the Strategy for the economic integration of the countries - members of the Eurasian Union. We made sure once again that Kazakhstan has created the most comfortable conditions for the implementation of large-scale investment projects. I am sure that the new joint venture for the production of butadiene rubbers will help strengthen the economies of our countries and the well-being of our peoples," Maganov said in turn.
On April 5, 2021, an agreement was signed between KazMunayGas and Tatneft on the basic terms of interaction on the Butadiene project. On April 28, 2021, the companies signed a roadmap for the implementation of the project and a framework agreement.