Sibur redirects almost all sales from Europe to Turkey, Asia, finds alternatives for imported chemicals

MOSCOW. June 2 (Interfax) - Russian petrochemical group Sibur has redirected its sales from Europe to Turkey and Asia, the in-house newspaper of subsidiary Nizhnekamskneftekhim reported.

"It's no secret that sanctions against Russia forced the company to restructure virtually all of its operations on short notice. As of now, Sibur has managed to agree with feedstock suppliers on changes to contract prices. Flexibility in sales logistics and the expansion of its presence on new markets also helped, so on the whole the company is feeling stable," the paper said.

"Previously, Sibur sold about 60% of its products on the domestic Russian market, 23% in Europe, 6% in Turkey and 7% in China. Now the volume of shipments to Europe has been reduced to virtually zero. [The company] managed to quickly redistribute these volumes to shipments for the markets of Turkey, China and other Asian countries," the paper said.

The company said that a fairly long list of special chemicals, additives and catalysts have been barred from being shipped to Russia.

"The restrictions are leading to a decrease in production volumes, and also narrow our brand assortment. As of now, alternatives have been found and so needs have been covered for 95% of the number of imported special chemicals. The search for alternatives from Russia or friendly countries is continuing," Sibur said.