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AI-92 42.28

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28

How to cover your back?

Liberalization of the gas market, planned the last year, has provided the petroleum companies with access to gas assets. In these conditions the monopolist lets other players under pressure from the outside. But courting firms can not resist temptation.

Tobolsk petrochem company(TNHK) was created in 1974. It produces the liquefied gas (propane and butane mix), butadiene (the basic component of synthetic rubbers) on the basis of wide fraction of light hydrocarbons. Central gas structuring machine processing light hydrocarbons with capacity 3 million tons per one year is considered to be the largest in Europe, and quality of production corresponds to the international standards, the most part is exported. The enterprise?s share on the Russian butadiene market is 70 %. In the beginning of 90th TNHK was given to the private owners. Financial problems and raw materials problems have begun from this moment, since the relationships with GAZPROM JSC were spoiled. From the end of 1998 TNHK has joined the uniform technological scheme of SIBUR JSC. That solved a raw materials problem. However external debts have sharply increased. The accumulated debt at a rate of above two millions roubles has formed the basis for the beginning of procedure of bankruptcy in the summer. 2001.

,The administration of the Tyumen region has developed investment projects to help Tobolsk NHK and to increase volume of industrial production. The program of development suggests creation of large manufactures on isobutylene, methanol, polypropylene production. Investments till 2010 should make 230 million. However there is still an open question -to whom the enterprise actually belongs. Essential problems are already solved: on February, 14 the question of signing of the quadrilateral agreement between administration of the Tyumen area, Tobolskneftehim JSC, Tyumenenergo JSC and SIBUR will be considered, where the diagram of repayment of the cumulated debt for the electric power will be discussed.

,SIBUR position is not a secret for anybody today. It owes to "Gazprom" 29 billion Roubles and has already covered part of the debt by property at the rate of 10 billion rubles. However, unsatisfied "Gazprom" has submitted the bankruptcy claim of GAZPROM. Gazprom hopes to receive not only the chemical holding itself, but also branches as well. To tell the truth, after "SIBUR" destruction there will be a lot of financial investments required. Gazprom has already had a meeting on Tobolsk NHK issue. The agreement on the price of gas assets, contracts on gas transportation and realization is planned to be signed by interested companies on February 15. SIBUR should sign the agreement and the contract on realization should.

Author: Anna Glazova

Source : Neftegaz.ru