during the third "Belt and Road" International Cooperation Summit Forum, under the witness of Kazakhstan President Tokayev, Ma Yongsheng, Chairman of the Group Company, and Kazakhstan National Oil and Gas Company (Kazakhstan State Oil and Gas Company for short) Oil) Management Committee Chairman Mirzakariyev signed a shareholding agreement in Kazakhstan’s polyethylene project (Silleno) company in Beijing, and the joint early stage of the phthalic acid (PTA)/polyethylene terephthalate (PET) project Feasibility study and development agreement. Before signing the contract, President Tokayev met with Ma Yongsheng.
Tokayev said that Kazakhstan spoke highly of Sinopec’s cooperation in Kazakhstan’s oil and gas field over the past 20 years. The polyethylene project in Kazakhstan is Kazakhstan’s first large-scale chemical project. It is believed that after Sinopec joins the project, the project construction progress will be further accelerated and it will be completed and put into production on time. Kazakhstan regards Sinopec as a strategic partner and believes that the cooperation between the two parties can be successful.
Ma Yongsheng said that in May this year, Sinopec and Kazakhstan Petroleum signed an agreement on the key terms of the Kazakhstan polyethylene project, and this time they signed a project share agreement. In addition, Kazakhstan is planning to use paraxylene (PX) produced at the Atyrau refinery to develop downstream chemical industries, and has invited Sinopec to assist in the development and promotion of the project. Sinopec attaches great importance to this and has discussed with Kazakhstan Oil on the first step of carrying out the pre-feasibility study of the project. On this basis, the two parties have formed a joint development agreement. Sinopec will take the two projects signed this time as an opportunity to continue to contribute to promoting practical cooperation between China and Kazakhstan and make new contributions to the development of Kazakhstan’s petrochemical industry.
Yu Baocai, deputy general manager of the group company and president of the joint-stock company, participated in relevant activities.
