Cryogas

Cryogas is the operator of the technical and medical gas business (oxygen, nitrogen and argon), has four production sites and four sites of subsidiaries in the regions of Russia.

The customers of Kriogaz are the largest petrochemical and metallurgical enterprises. The company is engaged in the production, delivery and sale of liquefied natural gas (LNG) for various consumers. In addition to supplying the main customers with technical gases "through the pipe," the company also sells oxygen, nitrogen, argon in liquid form. Production areas are located in the Sverdlovsk, Rostov, Tula regions.

History

2021: Sinara bought Cryogaz for 20 billion rubles

On February 1, 2022, it became known about the closure of the sale of Kriogaz to the Sinara group. The seller of the manufacturer of medical gases was Gazprombank. The cost of the transaction amounted to 20 billion rubles.

It is assumed that the purchase of Cryogaz will allow Sinara, as part of the ESG strategy, to open a new direction related to the development of promising gas technologies.

Sinara bought Cryogaz for 20 billion rubles

Tigran Khachaturov, Deputy Chairman of the Board of Gazprombank, emphasized that the deal with Sinara was "a logical continuation of the bank's strategy in terms of industrial assets."

The bank actually stood at the origins of the formation in Russia of a modern market for the production and sale of technical gases. The new owner of the business is a strong industrial company, a profile investor, will ensure the continuity and quality of the supply of technical and medical gases to consumers, he added.

It is noted that Kriogenmash is preserved in the Gazprombank group and will continue to implement projects for the production of technologies and equipment for air separation, the hydrogen industry and LNG.^[1]

Notes