China Petroleum & Chemical Corporation (Sinopec) and SIBUR Holding (SIBUR) signed a Memorandum of Understanding to cooperate in Nitrile Butadiene Rubber (NBR) project and a Framework Cooperation Agreement for SEBS Project in St Petersburg under the witness of Li Keqiang, the Premier of the State Council of the People’s Republic of China, and Dmitry Medvedev, Russian Prime Minister, on September 17. 

According to the agreements, Sinopec and SIBUR will set up a joint venture for the production of NBR with a capacity of 50 thousand tons per year in China, the share of which will be 60% and 40% respectively, and the other joint venture for the production of SEBS with a capacity of no less than 20 thousand tons per year in Russia, the share of which will be 50% and 50% respectively.