Russia’s largest petrochemicals company, Sibur, is ramping up its co-operation with Chinese partners as it prepares to build a huge petrochemical plant in the country’s Far East that will target the Chinese market.
“The Russian petrochemical industry is moving east and Russian energy is moving east,” Dmitry Konov, chairman of Sibur’s management board, said in an interview. “It is moving close to the Chinese border. This is where the energy goes and we follow it.”
Mutual suspicion has dogged relations between Russia and China, but a pivot by Moscow towards Beijing in recent years to offset the impact of US and EU sanctions has given fresh impetus to warming trade and investment ties between the countries.
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