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CP Chem and QatarEnergy to build $8.5 billion petrochemical complex in Texas21 Nov 2022 / ChemCourier. Polyolefins Market Weekly / production

The Qatari state-run oil and gas company QatarEnergy and Chevron Phillips Chemical Company LLC (CP Chem), Chevron’s petrochemical joint venture with Phillips 66, have taken a positive final investment decision on the construction of an integrated petrochemical project in Orange, Texas, the USA. The complex worth $8.5 billion will include a 2.08 million-tpy ethane cracker and two 1 million-tpy HDPE units. It is QatarEnergy’s largest petrochemical investment ever. CP Chem owns a 51% equity share in the joint venture Golden Triangle Polymers Company LLC, with QatarEnergy holding 49%. The company was named after the Golden Triangle region of Texas that includes the city of Orange where Chevron Phillips Chemical and its predecessors have had presence since 1955.

The construction will start immediately after the final investment decision is made. The complex startup is scheduled for 2026. The facility is expected to create more than 500 full-time jobs and about 4,500 construction ones, also generating an estimated $50 billion for the community as a residual economic impact. HDPE plants will make CP Chem’s Marlex polyethylene used in the production of pipes for natural gas and water delivery, along with products such kayaks and coolers. The commodity manufactured at the plant will also be used in an array of plastic packaging applications.

Golden Triangle Polymers Company LLC is aiming to have 25% lower greenhouse gas emissions than similar projects across the United States and Europe as a part of the company’s strategy to enable smaller carbon footprint. CP Chem will engage in the engineering, procurement and construction for the project and operate the facility after the commissioning. The project will help expand Chevron Phillips Chemical’s and QatarEnergy’s product portfolios and meet growing global demand for HDPE. The companies have jointly been operating assets in Qatar safely and reliably for over 20 years now and are looking forward to further cooperation.

 

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SK picglobal to provide INEOS Styrolution with renewable SM in Asia8 Nov 2022 / ChemCourier. Styrene Weekly / production

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   SK picglobal, a joint venture between SKC and the Kuwaiti national petrochemical company PIC (Petrochemical Industries Company), is the leading global supplier of propylene oxide and its derivative propylene glycol, and INEOS Styrolution, the global leader in styrenics, signed a memorandum of understanding (MoU) on 7 November. The agreement gave INEOS Styrolution access to renewable styrene monomer output from SK picglobal’s POSM plant in Ulsan, South Korea.

   SK picglobal plans to obtain ISCC PLUS certification (the International Sustainability and Carbon Certification) in 2023. It will help the company produce and supply renewable SM to INEOS Styrolution under the MoU. ISCC certification supports the use of advanced recycling technology and bio-attributed feedstock for the manufacture of recycled polystyrene and other styrenic products.

   ‘This renewable SM will enable us to offer recyclable, sustainable products with the exact same quality and performance that customers have come to expect,’ Arndt Kotyczka, INEOS Styrolution Vice President, Global Styrene Monomer, said. The agreement with SK picglobal is an addition to INEOS Styrolution’s efforts to create a circular economy for both PS and ABS in Asia. INEOS Styrolution had its manufacturing sites in Channahon and Texas City, the United States, and Altamira, Mexico, ISCC Plus certified in December 2021 and those in Antwerp, Belgium, and Ludwigshafen, Germany, in January 2022.

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SP Group introduces new recyclable film7 Nov 2022 / ChemCourier. Polyolefins Market Weekly / company news

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SP Group, a specialist in flexible, rigid and vacuum packaging for thermoforming, rolled out its first recyclable and retortable two-layer film in autumn 2022. The highly puncture and mechanically resistant new product is destined for the mass market for foodstuff. The material can also undergo thermal processes such as sterilisation, which helps prolong food shelf life while preserving its properties and reducing food waste.

The company stated that this mono material solution had been created pursuant to the EU sustainable development directives, including Horizon 2030/2050 that stipulates that all the plastic packaging must be recyclable, reusable and compostable. So, upper HB Ecotop layer combined with lower RST ECO one is a fully recyclable solution because over 90% of its content is polypropylene and the rest does not interfere with recycling. It is ideal for the foodstuff exported to Germany as polypropylene is recycled most extensively in the country.

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Pricing
ChemCourier. Polyolefins Market WeeklyCFR China $/t
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Chem-Courier's Conferences
News
Europe
30 Nov 2022European market players have set propylene monthly contract price for December at €1,170/t FD Northwestern Europe, €30/t down from the previous
30 Nov 2022The Society of Motor Manufacturers and Traders (SMMT) reported a 7.4% year-on-year rise in car production to 69,524 units in the UK in October, after a month-earlier
30 Nov 2022Naphtachimie, a 50/50 subsidiary of TotalEnergies and INEOS, has experienced technical issues at its cracker in Lavera, France, on 29 November, according to a press
CIS
25 Nov 2022HDPE Kazakhstan, KZT / t (12% VAT inc.) Basis Product 24 Nov '22 Last week 27 Oct '22 Last month Dec '22* 24 Nov '22, $/t EXW Almaty HDPE film (RU**) 840
25 Nov 2022PP Russia, RUB / t (20% VAT inc.) Basis Product 24 Nov '22 Last week 27 Oct '22 Last month Dec '22* 24 Nov '22, $/t CPT Moscow PP raffia (RU**) 105 000–106
25 Nov 2022Demand is feeble in the Russian CC4 market. Players barely need any extras of the fraction or butadiene. Prices have remained unchanged since the beginning of the month.
Americas
25 Nov 2022US origin PVC has been available to Colombian customers at $720—740/t CFR Cartagena this
25 Nov 2022Producers issue CP nominations Market well-supplied with imports The US butadiene market has become over saturated on the back of lowering demand and increased
25 Nov 2022Spot prices for ethylene continue to rise in the USA amid limited supply and demand for export deliveries to Europe and Asia. However, market activity is muted due to
Asia
30 Nov 2022A reduction in deep-sea imports has caused a 34,500-tonne fall to 64,500 t in styrene stocks of the East Chinese ports on 30 November. An increase in the country’s SM
30 Nov 2022CITIC Guoan has deferred the launch of a 100,000-tpy polystyrene unit in Zhejiang Province, China. The company plans to start testing its PS line on 7 December instead
30 Nov 2022Benzene stocks of East Chinese ports have been climbing during November owing to a continuous flow of the material from the overseas markets. They reached 139,500 t on
Middle East
30 Nov 2022The Saudi Arabian producer SABIC has left domestic film, blow-moulding and injection HDPE prices unrevised at $1,060/t FOB Saudi Arabia, $1,080/t FOB Saudi Arabia and
30 Nov 2022Major Saudi Arabian producer SABIC has announced the following price list for the UAE customers in December: Product Price, $/t Delivery terms Payment terms HDPE
25 Nov 2022Turkey Delivery terms Unit 25 Nov 2022 18 Nov 2022 Change 28 Oct 2022 Change Dec 2022* CFR Turkey (US origin К65) $ / t 720–740 730–750 -10 770–800 -55
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Petrochemicals and Polymers

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