On February 5th, Zhou Guo, the general manager of the company, attendedthe high-level meeting for Russian AGPP project held by Gazprom in Moscow. Themeeting was led by Mr. Markelov, the vice chairman of Gazprom, and P1, P2, andP3 contractors all participated in the meeting. As a consortium of P3 package,the senior management team composing the company and TCM participated in themeeting.

The meeting reviewed the main issues identified at the last high-levelmeeting, discussed the current progress of the project and the major issues,reached consensus on major issues, and achieved good results, laying afoundation for the follow-up implementation of AMUR project. During themeeting, Zhou Guo exchanged ideas with Mr. Pierroberto Folgiero, CEO of TCM.The two parties communicated on the progress of the current work of the projectand agreed to strengthen the follow-up cooperation between the parties.

During the stay in Moscow, Zhou Guoguo first visited the board ofdirectors of SIBUR Group, the Russia's largest petrochemical company, and Mr.Zou Wenzhi, the Sinopec representative. Both parties made detailedcommunication for AGPP project and AGCC project in terms of projectcomposition, investment, progress, etc. and got information on PE plant of AGCCproject, MTO and methanol projects in Baltic Sea region, AMUR methanol project,and AGPP+ AGCC project in Azerbaijan. Zhou Guo expressed the company’sstrategic plan to increase the development of Russian market and stated thatthe company would enhance the participation in Russian projects. Afterwards,Zhou Guoguo met with Mr. Denis Petrov, the general manager of BIOTECH PROGRESSwho is EP supplier of AMUR Project. Both parties communicated on the currentWTF and WWTU cooperation work and determined the major progress and nodes forthe near future. The two parties also discussed the further expansion ofcooperation scope and cooperation methods.