Global law firm White & Case LLP has advised SIBUR Holding, Russia's leading petrochemicals company, on the disposal of a 40 percent interest in Amur Gas Chemical Complex (Amur GCC) to China Petroleum & Chemical Corporation (Sinopec), China's leading energy and chemical company.
"We have advised long-term client SIBUR on one of its most significant and strategically important projects, with the Amur Gas Chemical Complex set to become the world's largest cracking units for the first-stage processing of incoming feedstock," said White & Case partner Nikolay Feoktistov, who led the Firm's deal team. "We brought together our best multinational expertise to advise on all aspects of this project and brought real value to an important project for our client."
Amur GCC's budget is tentatively estimated at US$10 billion to US$11 billion and is subject to adjustments as the project progresses.
According to SIBUR, the Amur GCC project is expected to help attract international investments in the Russian economy while also making a considerable contribution to the national program of growing the nation's non-commodity exports. Given the facility's geography, its products will be targeting Asian markets, primarily China, which is the largest consumer of polymers globally. The Amur GCC project is expected to be included in an intergovernmental agreement between Russia and China.
Alla Generalova, Head of Practice Legal Support of SIBUR, said: "Working on the Amur project we managed to find synergies between the SIBUR in-house team and the White & Case team, which were very valuable. We appreciated the high professionalism and business oriented mind-set demonstrated by White & Case throughout the deal."
The White & Case team that advised on the transaction was led by partner Nikolay Feoktistov (Moscow) and included partners Vivian Tsoi (Shanghai), David Li (Beijing), Katarzyna Czapracka (Brussels), Melody Chan (Hong Kong) and Jonathan Langley and Irina Dmitrieva (both Moscow), counsel Adam Smith and Pavel Boulatov (both Moscow), Peter Chessick (Washington, DC) and Sara Nordin (Geneva) and associates Evgeny Chernyavsky, Ksenia Tyunik, Jiutuo Sun, Alexander Karmalita, Roman Kudryavtsev and Tigran Saakyan (all Moscow) and Frank Shu (Shanghai).
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