FAS has made formula of ethylene price as the request of Rosneft and Sayanskkhimplast

The Federal Antimonopoly Service (FAS) has developed a formula for fair prices for ethylene in connection with an appeal of Sayanskkhimplast (Irkutsk region), the second largest polyvinyl chloride producer in Russia, and Angarsk polymer plant (AZP, Angarsk, Irkutsk region, is part of Rosneft) to the Russian Government, the press centre of the FAS reports.

"In the fourth quarter of 2015, Sayanskkhimplast worked on the technological minimum. Reducing the ethylene supply volumes by Rosneft and the lack of long-term contract for its delivery was caused by the unprofitable supply including. In order to resolve the situation, we have developed a price formula, which, in our opinion, correspond to the balance of economic interests of the seller and the buyer,"- said deputy head of the department of chemical industry control and agribusiness of the FAS Sergei Vershinin.