Sinopec to set up a new engineering company for refining and petrochemicals

(hydrocarbonprocessing) -- China Petrochemical Corp, or Sinopec Group, has set up an engineering and construction company specialized in building refining and petrochemical facilities, paving the way for further expansion of its businesses overseas, report company sources on Monday.

The new company, Sinopec Engineering, was set up in Beijing with capital of 3.1 billion yuan (USD488 million) through the restructuring of Sinopec Group's eight engineering and construction firms.

Sinopec Group, the parent of China Petroleum & Chemical Corp., or Sinopec, said the unit has the capacity to handle over 20 large-scale engineering, procurement and construction projects simultaneously.

Sinopec Group is one of the major petroleum companies in China, headquartered in Chaoyang District, Beijing. Sinopec's business includes oil and gas exploration, refining, and marketing; production and sales of petrochemicals, chemical fibers, chemical fertilizers, and other chemical products.
MRC

Gazprom and Japanese companies to sign an agreement for LNG plant in Vladivostok

(Chammanager) -- Gazprom and a consortium of Japanese companies are poised to sign an agreement on the construction of a liquefied natural gas (LNG) plant in Russia's Far Eastern port of Vladivostok, Gazprom sources told Reuters on Tuesday.

The document could be signed during the Asia-Pacific Economic Cooperation summit in Vladivostok on Sept 8 and 9 after Gazprom finally shelved its long-mulled plans to launch an LNG project on the back of the huge Shtokman gas field in the Barents Sea. The Shtokman project was derailed by sagging demand for the fuel in Europe and the speedy development of shale gas deposits in the United States, which had been viewed as a primary export market for Shtokman. Gazprom will now secure a preliminary agreement to build the Vladivostok plant with Itochu Corp and Japan Petroleum Exploration.

Japan requires additional sources of energy after the Fukushima nuclear plant disaster in March 2011. Japan is the world's largest LNG consumer, accounting for almost a third of the global frozen gas utilisation.
MRC

European makers intend to increase PP prices by EUR150-200/tonne

MOSCOW (MRC) – September contract prices of propylene grew by EUR105/tonne, but European makers are going to get a price rise of PP by EUR150-200/tonne, report MRC analysts.

On Friday, September contract prices of propylene were agreed in Europe. Monomer for September shipments rose in value by EUR105/tonne from August. However, this month European makers intend to get an increase in PP prices by EUR150-200/tonne on low margin and tightened supply.

Negotiations on September level of export PP prices for CIS countries have just begun, but European makers are already voicing their bold statements regarding September prices. Price-offers for September shipments of homopolymer PP are voiced in the range of EUR1,320-1,380/tonne, FCA.

It is rather hard for many companies importing European PP to accept the current rise in prices. Over the past two months PP prices have risen by more than EUR300/tonne. As buyers of European PP report, they are already in no position to influence the price formation process since there is no serious alternative at the moment. Over the past two months Asian makers have been selling their volumes quite speedily. Middle Eastern producers decided to adapt to the European market.
MRC

Intercoil to open a new polyurethane foam unit in RAK

(AMEinfo) -- In a step that reinforces its expansion plans, Intercoil International, the Dubai-based sleep products manufacturer, today announced plans to open its state-of-the-art polyurethane foam manufacturing plant in Ras Al Khaimah in Q 4, 2012, under the entity International industries LLC, a sister company of Intercoil International. The plant located at Al Ghail Industrial area in RAK.

The plant, which becomes fully operational in December 2012, boasts of the latest technologies in foam production, including a fully automated computerized long blocks handling and processing system. These technologies will greatly enhance production capacity, and will enable the company to produce all quality and grades of polyurethane foam including HR, and Viscoelastic.

Intercoil also plans to expand its presence in at least two new countries every year - it currently operates in 8 countries across two continents, and exports to more than 22 countries in the region.
MRC

Solvay to supply lithium salt grades for LPM batteries

(solvay) -- Solvay has announced that its Global Business Unit Aroma Performance will supply two Bollore Group affiliates, Batscap and BatHium Canada Inc, with specialty Lithium Salt grades (LiTFSI) for their Lithium-Metal-Polymer (LMP) batteries. Aroma Performance will manufacture its lithium salt electrolytes in its manufacturing specialty fluorinated derivatives plant at Salindres, France and in China.

This contract complements the strategic supply contract with both companies for specialty grades of Solvay's high performance polymer Solef PVDF which it struck last year. Both supply contracts are a result of a common R&D program of both Groups.

Solvay, international chemical Group, offering a broad range of products. A balanced portfolio of products in markets such as consumer goods, construction, automotive, energy, water and environment and electronics.
MRC