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Rosneft and Pirelli Signed a Memorandum of Understanding in the Sphere of Producing and Shipping of Synthethic Rubber in the City of Nakhodka.

24 May 2014
Photo: the Presidential Press and Information Office

Igor Sechin, Rosneft President and Chairman of the Management Board and Marco Tronchetti Provera, Pirelli’s Chairman and CEO, had signed a Memorandum of understanding in the sphere of synthetic rubber producing and shipping in the city of Nakhodka in the framework of the realization petro-chemical cluster Far East Petrochemical Company (FEPCO).

The signature ceremony was led by the President of the Russian Federation Vladimir Putin.

According to this memorandum, Rosneft and Pirelli claimed their intentions on using the petro-chemical cluster “Far East Petrochemical Company”, which is situated in Nakhodka, for synthetic rubber production. The product will be delivered on Pirelli’s own tire production facilities in South-Pacific region. Above all, Rosneft and Pirelli show intention to develop research, design and experimental projects in this sphere in Nakhodka.

Styrene butadiene rubber, which is supposed to be produced there, is an environmentally-friendly material, which is used in production of so called “green tires”. It improves adherence on both wet and dry road and helps to reduce fuel spending.

After signing the memorandum, Igor Sechin said: “Practical implementation of this agreement means remarkable opportunities for both Rosneft and Pirelli. It will also help to encourage major investments from bank actives on the principles, common to project financing”.

Notes for Editors:

Rosneft, Pirelli and Rostec signed MOU with regard to a joint research and development agreement in the area of synthetic rubber materials in December 26, 2013.

Rosneft Information Division
Tel.: + 7 (499) 517-88-97
May 24, 2014

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligation to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.