Sinopec/globalhappenings
China's rejection of joint projects
It was previously assumed that Sinopec and Sibur “, the largest producer of petrochemical products in Russia, will build a large gas chemical complex in Eastern Siberia.
The project cost was estimated at $ 10 billion, the commissioning date was 2024, the Chinese company was supposed to own 40% of the complex.
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According to the source of the publication, Sinopec took a break in the project after adding a minority share ionist and member of the board of directors of Sibur Gennady Timchenko to the EU and UK sanctions lists.
Rejection of Russian gas
Sinopec also suspended negotiations on gas sales with the Russian gas producer Novatek from -for fears that Sberbank, as one of the shareholders of the company, is on the list of US sanctions.
Novatek, the largest independent gas producer in Russia, in 2019 entered into a preliminary agreement with Sinopec and Gazprombank to establish a joint venture for the sale of liquefied natural gas and natural gas distribution in China.
