Agreement between Gazprom and Borealis to develop joint projects

03 May 2016

Borealis and Gazprom signed a memorandum of understanding, which reflects the parties’ interest in evaluating opportunities to develop joint gas chemical projects in Russia.

Gazprom is a global energy company focused on geological exploration, production, transportation, storage, processing and sales of gas, gas condensate and oil, sales of gas as a vehicle fuel, as well as generation and marketing of heat and electric power.

Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, the company currently has around 6,500 employees and operates in over 120 countries. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, the remaining 36% belonging to OMV, an international, integrated oil and gas company based in Vienna. Borealis provides services and products to customers around the world, in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).