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Global petrochemicals news: 11 June 2014

Hydrocarbon Engineering,


Europe

INEOS has won the Outstanding Contribution to the Chemical Industry Award at the second annual Petrochemicals Awards of Excellence for being the first company to plan bringing ethane from shale gas to Europe. If plans are successful, INEOS will become the first company to create seaborne intercontinental ethane transportation and has agreements with Sunoco Logistics and Mariner East for capacity and pipeline and terminal systems respectively. Range Resources and CONSUL Energy will be used to purchase ethane from the US. Other companies in the running of the award included DOW and BASF.

Also in Europe, the Association of Petrochemicals Producers in Europe (APPE) has rebranded itself as Petrochemicals Europe. The association has said that the renaming better reflects the current and future direction in which it is to move. Petrochemicals Europe is however going to continue to operate under the Cefic umbrella, European Chemical Industry Council which is based in Brussels.

India

The Indian government has said it is considering setting up three new petrochemical facilities in the coastal areas of Karnataka, Mahrashtra and West Bengal. So far, Rs 1.50 lakh has been received for investment in the plants which will create a Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) covering an estimated area of 250 km2. A PCPIR has to usually have room for setting up manufacturing facilities for domestic and export led production and needs to follow policy to ensure the availability of external physical infrastructure including rail, road, ports, airports and telecommunications.

PCPIR’s were proposed for Gujarat, Andhra Pradesh, Odisha and Tamil Nadu in 2007 and in 2009 they were approved for Dahej, Paradeep, Vishakhapatnam-Kakinada and Cuddalore-Nagapattinam. The latter collection are expected to attract Rs 7 62 894 crore of investments.

Iran

It was announced that the 11th Industrial Petrochemical Industry Conference that Iran’s NPC is looking to increase methanol production capacity. The company is going to increase production by 17%, the equivalent of 10 million t over the next fiver years. Last year, Iran produced a total of 60 million t of petrochemicals. New expansion plans include the completion of the Fateh Sanat Kimia methanol plant in Dayar City with a processing capacity of 1.65 million tpy and the Petro Farhang plant at a processing capacity of 1.3 million tpy.

Venezuela

It has been reported that international suppliers are no longer extending credit to the petrochemical industry in Venezuela. It has been said that this is due to payment delays. Suppliers will however continue to supply the industry if there is advanced payment for products. It is believed that due to this lack of credit, the country’s preexisting product shortages will increase and the country will be forced to directly import petrochemical products.


Edited from various sources by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/11062014/global_petchem_update_11_june/


 

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