Sinopec Drops Out of Plans with Russia To Invest in New Gas Chem Complex

摘要

Beijing-Sinopec has discontinued discussions with Sibur to invest up to $500-million in a new gas chemical facility in Russia in response to rising sanctions over Russia's invasion of Ukraine,Reuters reported citing sources.The companies were planning to build a project similar to the $10-billion Amur Gas Chemical Complex in Siberia,which is scheduled to come online in 2024(PCN,13 Dec 2021,p 1).Sinopec has also suspended talks with Novatek regarding a gas marketing venture,said the report citing sources familiar with the matter.