KazMunayGas hands stake in Butadien petrochemical JV with Tatneft to Samruk-Kazyna

MOSCOW. June 22 (Interfax) - KazMunayGas no longer owns a 25% share in Butadien LLP as of June 19, Kazakhstan's national oil and gas company said.

The stake was transferred to the Samruk-Kazyna National Wealth Fund.

The joint venture for the production of butadiene and its derivatives was established by Tatneft with a 75% share, and KazMunayGas, with 25%, in November 2021.

At the time, it was assumed that the capacity of the enterprise would total 180,000 tonnes of butadiene and butadiene rubber per year. The cost of the project was tentatively estimated at about $1 billion, and launch was scheduled for 2026. Raw materials were to be supplied from the Tengiz and Korolev deposits in Kazakhstan.

It was reported that the licensor of the petrochemical plant would be American Lummus Technology.