SIBUR Holding and China Petroleum and Chemical Corporation (SINOPEC) signed a Memorandum of Understanding (MoU) outlining the details of strategic partnership between the two MNCs in China, Russia and other countries where the two parties would operate jointly in manufacturing and marketing of petrochemical products. Apart from processing of natural gas into petrochemicals in Russia and China, the companies would engage in cross-training of workforce and focus on RandDs to facilitate sharing of knowledge and expertise.