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05-02-2013

SIBUR and IES Holding agree on long-term cooperation

SIBUR's CEO Dmitry Konov and President of Integrated Energy Systems Boris Vainzikher signed a Strategic Memorandum to boost energy efficiency of SIBUR's petrochemicals production.

The Memorandum outlines a comprehensive action plan aimed at more efficient power supplies to SIBUR's production facilities from IES Holding's power plants located near Perm, Nizhny Novgorod, Samara, and in other Russian regions.

In February, the companies plan to sign a long-term contract that will see IES's TGC-6 deliver heat to RusVinyl, a joint venture PVC plant of SIBUR and SolVin under construction. As tentatively agreed by the parties, TGC-6's Novogorkovskaya CHPP is to provide RusVinyl with an annual 500,000 Gcal of steam and hot water and 1.5 mt of desalinated water over the next ten years.

"The predictability of energy costs and reliability of suppliers in the long run is of extreme importance to SIBUR that we believe is set to benefit from contracts of this kind," said Dmitry Konov.

The deal marks one of Russia's first ever arm's length long-term agreements on heat power deliveries to industrial consumers in line with the Federal Law On Heat Supplies," said Boris Vainzikher.

The parties also formed a project team to look into the efficiency of power supplies to related operations.

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