Sibur says gives $6.1 bln guarantee to Gazprom for ethane sales

MOSCOW, Dec 28 (PRIME) -- Russian petrochemical holding Sibur has given an independent U.S. $6.075 billion guarantee to gas giant Gazprom for a contract to sell ethane fraction to the Amur Gas Processing Plant, Sibur said in a statement on December 25.

Sibur and Gazprom signed in 2018 a 20-year agreement for 2 million tonne ethane supplies per year.

Construction of the Amur facility with a capacity of 42 billion cubic meters of gas per year started in 2015. The launch of the first two production lines is expected in 2021, while the facility is to reach full capacity in 2025.

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