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SIBUR | Foundation for Defense of Democracies
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Date: 2008 - Ongoing

Deal: According to a Russian news agency, SIBUR and Iran's National Petrochemical Company (NPC) are planning to build a petrochemical plant to produce bulk polyolefin in one phase of Iran's South Pars gas project. In 2009, SIBUR President Dmitry Konov commented that his company had been negotiating with NPC for about a year, according to a Russian news agency (Itar-Tass (Russia), November 30, 2009).

According to SIBUR's website, the company's majority shareholder is Gazprombank, which owns over 95 percent of its shares (SIBUR Website, accessed August 14, 2010). According to Gazprombank's website, Russian energy giant Gazprom founded the company in 1990 to provide banking services to Russia's energy industry (Gazprombank Website, accessed August 14, 2010).

In December 2009, Russian energy minister Sergei Shmatko met with Iranian oil minister Masoud Mir-Kazemi. Ahead of the meeting, Shmatko commented, "There's a project to develop Iran's petrochemicals industry, and Sibur is very interested," according to The St. Petersburg Times (The St. Petersburg Times, December 1, 2009).

In August 2010, the Iranian press reported that talks between SIBUR and NPC were continuing and that SIBUR officials were "eager to cooperate with Iran" in upstream petrochemical projects (Press TV (Iran), August 2, 2010).

According to European Plastics News in December 2011, Sibur denied that it was in talks with Iran regarding joint venture projects. This statement comes after Iranian media stated that Sibur may be part of a variety of petrochemical projects in coordination with NPC (PRW.com, December 1, 2011).

U.S. Business Ties: According to USAspending.gov, SIBUR has received no U.S. government contracts (USAspending.gov, accessed August 18, 2014).

Last Updated: August 18, 2014