KazMunayGas entrusts a steam cracker project to a JV between Sinopec and Técnicas Reunidas
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KazMunayGas, Kazakhstan's national oil and gas company, has allocated a steam cracker project to a joint venture between China's Sinopec and Spain's Técnicas Reunidas. This decision is part of an agreement the two companies entered into last September, which also led to them securing contracts for two major gas fractionation plants in Riyas, Saudi Arabia, earlier this year.
The project, which involves an investment of approximately 2.3 billion euros, will see each joint venture partner contributing half. Sinopec will also provide financial backing for the project. The development is set to be completed by the end of 2028.
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Lummus Technologies from the US, recently announced as the technology licensor for this venture, will play a key role in the development of Kazakhstan’s first polyethylene plant. The steam cracker, essential to any petrochemical complex, will be located in Atirau province on the Caspian Sea coast. It will utilize local gas to produce around 1,300 kilotonnes of ethylene annually.
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