LG Chem and Enilive move towards FID for biorefinery

The agreement was signed in Rome by Eni CEO, Claudio Descalzi, and LG Chem CEO, Shin Hak-cheol.

In September 2023, Enilive (a company directly controlled by Eni, which holds 100% of its share capital) and LG Chem announced they were exploring the possibility to develop and operate a new biorefinery at existing LG Chem’s integrated petrochemical complex in Daesan, South Korea, with the aim to complete the biorefinery by 2026 and to make it process approximately 400 000 tpy of renewable bio-feedstocks using Eni's Ecofining™ technology and produce multiple products including sustainable aviation fuel (SAF), hydrotreated vegetable oil (HVO), and bio-naphtha. LG Chem and Eni will combine expertise in this initiative. The FID is expected in 2024.

Eni CEO, Claudio Descalzi stated: “Biofuel production is one of the main pillars of our strategy to contribute to reach net zero emissions by 2050 also through the sale of increasingly decarbonised products to our clients. The biorefinery project we are working on together with LG Chem is a key element to expand Enilive biorefining presence internationally, to raise its capacity from currently 1.65 million tpy to over 5 million tpy by 2030 and to increase the optionality of SAF production to up to 2 million tpy from 2030.”

LG Chem CEO, Shin Hak-cheol noted: “This agreement holds significant meaning as it represents the collaboration and joint effort of global leading companies towards the common goal of net zero. LG Chem will actively support the successful execution of this project and, moving forward, will solidify its position as a leading company in the eco-friendly plastic industry, achieving sustainable development and carbon neutrality as a true global entity.”

Read the article online at: https://www.hydrocarbonengineering.com/refining/22012024/lg-chem-and-enilive-move-towards-fid-for-biorefinery/