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Domestic energy company China Petrochemical Corp will help develop the biggest natural gas chemical project in Kazakhstan, together with KazMunayGas, a state-owned oil and gas company within the country, the Chinese company said on Thursday.
China Petrochemical Corp, also known as Sinopec, signed the Agreement on Principles for the joint implementation of the polyethylene project in Atyrau region in Kazakhstan with KazMunayGas on Thursday, during the state visit to China of Kazakh President Kassym-Jomart Tokayev.
As part of Sinopec's future involvement, the parties will sign a share purchase agreement and other legally binding documents. The Final Investment Decision (FID) of the project participants is expected in 2024, it said.
zhengxin@en.silubaba.com.cn
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