Our Sibur (initially “GNK”) project was initiated by PCH in 1996.
The project is a unique undertaking with an emphasis on vertically integrating the processing of associated petroleum gas (APG) and liquid hydrocarbons in Western Siberia with the production of petrochemical products with high added value.
The concept of restructuring and consolidating the petrochemical industry in Russia was successfully implemented by Mr. Iakov Goldovskiy in his role as Founder and Chairman of GNK and later as President of Sibur.
During the course of the project, Sibur’s turnover increased to c. $2 billion with prices for crude oil of about $15 / bbl.
In 1999 and 2000, Sibur received two US Government grants aimed at the development of petrochemical projects. The grants were awarded to Mr. Goldovskiy (as president of Sibur) personally by James Collins and Alexander Vershbow (the then US Ambassadors to Russia).
PCH was forced to sell Sibur to Gazprom Group in 2002/2003.
Today, Sibur is a giant Russian APG processing complex including fully integrated capabilities with deep conversion of light hydrocarbons into petrochemical products such as polyolefins, rubbers, plastics, and various organic synthesis products.
