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Linde (NYSE:LIN) has ended its participation in Sibur's Amur gas and chemicals project in Russia's far east, the Russian company said on Tuesday, according to Reuters.
Sinopec (SNP) owns a 40% stake in the Amur project, and Sibur said it is now working with the Chinese company on how to "adapt" the project to the new reality
The project will process gas into base polymers, such as polyethylene and polypropylene, and process gas fractions from Gazprom's gas processing plant, with construction originally set for completion mid-2024.
Linde (LIN) said in March it was suspending all business development activities in Russia, ceasing supply to certain customers, and divesting industrial assets.
Linde (LIN) offers "strong execution in this shaky macro environment," Option Generator writes in a bullish analysis published recently on Seeking Alpha.