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Sibur virtually zeroes deliveries to Europe, redirects exports to China and Turkey

Sibur virtually reduced supplies of its products to Europe to zero and promptly redirected the volumes to Turkey, China, and other Asian countries, according to the corporate newspaper of NKNK (Nizhnekamskneftekhim, part of the Sibur group).

"Previously, Sibur sold around 60% of its products on the domestic market of Russia, 23% was supplied to Europe, 6% - to Turkey, 7% - to China. Now the volume of deliveries to Europe was practically reduced to zero, the volumes were quickly redirected to markets in Turkey, China, and other Asian countries," the newspaper said.

Anti-Russian sanctions forced the company to quickly restructure almost all of its work, the report said. At the same time, Sibur managed to negotiate contract prices and expanding its presence in new markets with raw material suppliers.

Earlier, Sibur announced plans to increase exports of petrochemical products to China by 40% in 2022, as well as to develop new directions for deliveries to the Southeast Asia market. Thus, sales of polymers to Vietnam in 2022 are expected to grow by 30%.

[Source: Tass, Moscow, 02Jun22]

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