Sibur—a Russian petrochemical giant, recently claimed that the company would withdraw from the methanol business and focus on the development of the core business. The company said that SibMethaKhim has sold its 33.46 percent of the shares in Metafrax. Now Sibur is now quitting from the joint venture of SibMethaKhim and will be operated under Tomskgazprom and ZAOMethanol. SibMethaKhim is built by Sibur and Vostokgazprom(a subsidiary of Gazprom) in September 2006.The original intention of building SibMethaKhim is to integrate all methanol assets of Gazprom.