Russian gas monopoly Gazprom, Russian petrochemicals firm Sibur and US chemicals giant The Dow Chemical Company have signed a memorandum of intent relating to the processing of hydrocarbons.
The memorandum refers to the evaluation of perspectives for a joint venture creation based on the expanded petrochemical production facilities of Dow Chemical in Germany.
The parties would also look into the joint development of processing the natural gas from the Valangin deposits in the Yamalo-Nenets autonomous area, as well as potential co-operation in other spheres.
They 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.