OREANDA-NEWS. Fortum is negotiating to divest its Russian subsidiary OOO Tobolsk CHP to SIBUR, Russia's largest integrated gas processing and petrochemicals company. OOO Tobolsk CHP owns and operates a combined heat and power plant in the city of Tobolsk in Western Siberia.

The Russian law requires the approval of the Russian antimonopoly service before concluding the negotiations. The approval has been received on 28 January 2016.

As the negotiations are continuing, Fortum cannot disclose any details of the possible agreement or estimate the schedule for their completion.

SIBUR's Tobolsk Neftekhim and Tobolsk Polymer petrochemical plants are primary customers of the process steam produced by the CHP plant. The plant's production capacity is 665 megawatts (MW) electricity and 2,585 MW heat.