RusHydro and SIBUR sign cooperation agreement at SPIEF 2017
June 01, 2017. Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) and PAO SIBUR Holding (SIBUR) signed cooperation agreement during the St. Petersburg International Economic Forum (SPIEF). The document was signed by Nikolay Shulginov, Chairman of the Management Board – General Director of RusHydro, and Dmitry Konov, Chairman of the Management Board of SIBUR.
The parties intend to review various options for energy supply of SIBUR’s gas processing plant in Amur region from energy facilities operated by RusHydro. SIBUR is currently studying feasibility of construction of the plant. The agreement aims to provide reliable energy supply to one of the largest prospective petrochemical projects, while at the same time increasing output of RusHydro’s existing and prospective power plants as well as helping to optimize plants’ load regime. Pursuant to the agreement, RusHydro will develop, jointly with SIBUR, mutually beneficial electricity and capacity prices, enabling profitability of investment projects for both parties.
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.