Moscow—Russia’s largest oil producer, Rosneft, and petrochemical company Sibur Friday reached an agreement under which the oil producer will sell its stake in a gas processing joint venture to Sibur and guarantee supply of up to 10 billion cubic meters a year of associated gas to the facility. The two companies have agreed that Sibur will purchase a 49% share in the Yugragazpererabotka joint venture from Rosneft, increasing its interest in the venture to 100%, the companies said in separate statements. Yugragazpererabotka is a joint venture that owns and operates three gas processing plants—Nizhnevartovskiy, Belozerniy and Nyagangazpererabotka— along with the pipeline infrastructure that transports associated gas from compressor stations to the plants. The total capacity of Yugragazpererabotka’s processing plants is 13.4 Bcm/year.
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