Entity

Kazakhstan Petrochemical Industries Inc. LLP (abbreviated KPI Inc. or simply KPI) is the project operator for the construction and operation of Kazakhstan's first integrated gas-chemical complex in the Atyrau region. The company is incorporated as a Limited Liability Partnership (LLP / ТОО) under Kazakhstani law and was formally created pursuant to Resolution of the Government of the Republic of Kazakhstan No. 101 dated 29 January 2004. It was reconstituted in its current form in 2008 as the dedicated project vehicle for the gas-chemical complex initiative.

KPI Inc. is headquartered in Atyrau, Kazakhstan, and operates as part of the Samruk-Kazyna group of companies, with the management function transferred to NC KazMunayGas JSC under a trust management agreement from June 2018.

Current Ownership Structure

The ownership structure as of April 2024 — following the completion of SIBUR's entry into the project — is as follows:

Ownership History

The shareholding structure of KPI Inc. has evolved considerably since founding:

• 2004–2018: Entity originally created with 51% held by United Chemical Company LLP (100% Samruk-Kazyna subsidiary) and 49% held by Almeks Plus LLP (private investor)

• June 2018: 99% of KPI Inc. placed under trust management of NC KazMunayGas JSC while formal ownership remained with Samruk-Kazyna entities

• 13 June 2022: NC KazMunayGas JSC acquired 49.5% of KPI Inc. directly from Samruk-Kazyna JSC; simultaneously Samruk-Kazyna Ondeu LLP retained 49.5% and Almeks Plus LLP retained 1%

• April 2024: SIBUR Holding PJSC closed its entry transaction, acquiring a 40% stake — reducing Samruk-Kazyna Ondeu's holding from 49.5% to 9.5%, while KMG's 49.5% and Almeks Plus's 1% remained unchanged

Business Activity and Industrial Role

KPI Inc. is the operator of the Atyrau Polypropylene Plant, Kazakhstan's first large-scale petrochemical facility producing 500,000 tonnes/year of polypropylene (PP), commissioned in 2022. Feedstock is propane sourced from Tengizchevroil (TCO) via the KazMunaiTrans pipeline system. The polypropylene plant uses propane dehydrogenation (PDH) and polymerisation technologies.

The broader KPI mandate encompasses the multi-phase development of an integrated gas-chemical complex at the Atyrau site, with the polypropylene plant constituting Phase 1. Subsequent phases under study or planning include additional polymer trains leveraging ethane and LPG feedstocks from western Kazakhstan fields.

SIBUR's Strategic Entry

SIBUR Holding PJSC's acquisition of a 40% stake in April 2024 is strategically significant as it brings Russia's largest integrated petrochemical company — and one of the world's leading polyolefin producers — into Kazakhstan's flagship domestic chemical project as a technology and commercial partner. SIBUR's entry provides KPI Inc. with access to polyolefin marketing networks, process technology expertise, and downstream customer relationships across the Eurasian market.