Dechert Advises Sinopec on Amur Joint Venture Project with SIBUR

Dechert has advised China Petroleum & Chemical Corporation (“Sinopec”), China’s leading energy and chemicals company, on its joint venture development with SIBUR of the Amur Petrochemical Project, projected to be the world’s largest basic polymer production facility.

Dechert acted as legal advisor to Sinopec which purchased a significant equity interest from SIBUR and will be the exclusive distributor in China. Continuing on from Sinopec’s role as a strategic investor in SIBUR, this joint venture project exemplifies the extension of bilateral energy cooperation from upstream to the petrochemical sector. In addition to advising on the M&A elements of this project, Dechert advised as international counsel on the full range of shareholder, project development, offtake, international trade and cross-border regulatory issues.

Commenting on the deal, Xiao Yong, partner at Dechert LLP, said, “It has been a privilege to have supported Sinopec on its Amur joint venture project with SIBUR. This is yet another transaction demonstrating the breadth of Dechert’s Corporate practice whilst underscoring our energy expertise as well as cross-border regulatory capabilities across multiple jurisdictions, including in Asia, Europe and the United States.”

The core Dechert team was led by partner Xiao Yong, counsel Nicholas Molan in Hong Kong and counsel Zhaohui Li in Beijing, supported by partner Laura Brank, national partner Evgenia Korotkova, associates Kirill Skopchevskiy and Pavel Dunaev in Moscow, and associate Adam Schmelzer in Beijing. International trade matters were handled by partners Jeremy Zucker and Darshak Dholakia in Dechert’s Washington DC office. Partner Alec Burnside and associates Adam Kidane and Delphine Strohl in Dechert’s Brussels office also advised on regulatory issues.

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Dechert is a leading global law firm with 26 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.