Gazprom Group and Dow Sign a Memorandum of Intent in the Sphere of Gas Processing

Today at the headquarters of Gazprom in Moscow, the Chairman of the Management Committee of Gazprom, Alexey Miller, the President of SIBUR, Dmitry Konov and the Chairman and CEO of The Dow Chemical Company, Andrew Liveris, signed a Memorandum of Intent in the sphere of hydrocarbons processing.

The Memorandum refers to the evaluation of perspectives for a joint venture creation based on expanded petrochemical production facilities of The Dow Chemical Company in the Federal Republic of Germany, and to the joint development of natural gas processing of Valangin deposits in Yamalo-Nenets autonomous area, as well as to the evaluation of potential cooperation in other spheres.

The parties will establish a joint working group to preliminarily assess the economic suitability for the formation of a joint venture, and to finalize further joint technical and economic studies.

The Dow Chemical Company, Gazprom and SIBUR will define the possibility to create a joint venture company in the framework of the evaluation of the hydrocarbons extraction from Valangin gas deposits in Yamalo-Nenets autonomous area and their further processing in a world scale petrochemical site in the Russian Federation.