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Rosneft, Avestra Chemical and Far East Gas to study prospects of LPG and propylene supplies to China

04 September 2015

Rosneft, Avestra Chemical (Suisse) SA and Manzhouli Far East Gas Co. Ltd. (Far East Gas) during the Eastern Economic Forum signed a tripartite memorandum of understanding over cooperation in supplies of propylene and various types of liquefied petroleum gas (LPG) to China.

The document confirms intentions of the parties to evaluate prospects of:

  • long-term supplies of 60 to 200 ktpa of LPG and propylene produced by Rosneft from the Russian Federation to the People's Republic of China through the border crossing Zabaikalsk – Manchuria, and
  • use of capacities of the Far East Gas terminal for transshipment of LPG and propylene after its completion.

NOTE FOR THE EDITORS:

Shareholders of Far East Gas are Harbin Railway, PetroChina and Avestra.

Total planned capacity of the terminal is up to 3,000,000 tons of LPG and propylene per year.

Rosneft Information Division
Tel.: + 7 (499) 517-88-97
September 4, 2015

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligation to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.