Tatneft advances $1bn plan to manufacture butadiene rubber
30 Nov 2021
Russian energy giant inks agreement with KazMunayGas to set up JV in Kazakhstan
Nur-Sultan, Kazakhstan – PJSC Tatneft and Kazakh state-owned oil and gas company KazMunayGas have signed a joint venture agreement to produce butadiene rubber in Kazakhstan.
The Butadiene LLP venture will be 75% owned by Tatneft and 25% owned by KazMunayGas. It will have capacity to produce 180 kilotonnes per annum of butadiene and butadiene rubbers, Tatneft announced 30 Nov.
The project, estimated to cost $1 billion (€880,000), will be built at the "National Industrial Petrochemical Technopark" in the Atyrau region and is expected to create over 700 jobs when operational
As stated during the signing of a framework agreement in April. most of the finished products are to be supplied to the KamaTyresKZ tire factory, currently under construction in Saran, Kazakhstan.
The plant will also export to European countries, Russia, China and Turkey, Tatneft added.
“Tatneft has big plans in petrochemistry, and we are happy to develop this area together with our Kazakh partners,” said Nail Maganov, general director of Tatneft.
“The new joint venture for the production of butadiene rubbers will contribute to strengthening the economies of our countries and the well-being of our peoples."