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SK innovation inks agreement with LanzaTech to develop new technology for butadiene production

November 05/2013

MOSCOW (MRC) -- SK innovation, one of the world's leading energy and petrochemical companies, and LanzaTech, a producer of low-carbon fuels and chemicals from waste gases, have announced an agreement to develop a new process technology for the production of 1,3 butadiene, a platform chemical used in many high growth industries globally, according to Plastemart.

The collaboration will accelerate the commercialization of an alternative route to butadiene, a chemical increasing in scarcity because of the shale gas boom in the United States.

An estimated USD20 billion market, butadiene is a building block in a huge range of materials including synthetic rubber used in tires, belts, hoses, seals, carpet backing and medical latex; molded plastics used in consumer appliances such as vacuum cleaners, kitchen appliances and electronic gadgets; nylon 6,6 used in textiles and engineering resins used in automotive engine components; and as a chemical intermediate for adhesives and speciality chemicals.

The move to shale gas in the United States is driving butadiene scarcity and businesses are looking for alternative sources. At the same time, rising incomes in emerging markets are increasing demand for automotive purchases, tires, engine components and other consumer goods.

The development work will be carried out at SK innovation's state of the art research centre in Dae Jon, Korea, which focuses on research and development of new technologies in energy, petrochemical, and materials industries.
It works on a wide range of research areas such as eco-friendly, premium petroleum products, asphalts, lubricants, polymers, green energy and advanced batteries.

As MRC wrote previously, Korea's top refiner SK Innovation Co. could benefit from Sinopec's decision to scrap a petrochemical plant in eastern China as it stands to enjoy higher margins. SK Innovation, along with Japan"s JX Nippon Oil & Energy Corp., will likely be the biggest beneficiaries of the recently cancelled plan to build a new a paraxylene plant in Ningbo. SK Innovation is estimated to have an annual production capacity of 750,000 metric tons of paraxylene under its petrochemical wing SK Global Chemical Co., being Asia's ninth-largest paraxylene producer. It is likely to jump to the fifth when a 50-50 joint plant with JX Nippon is completed in 2014. The new plant is expected to raise SK Global Chemical"s annual production of paraxylene to 1.5 million metric tons.
Author:Margaret Volkova
Tags:slanceviy gaz, car components, Medicine, neftehimiya, adhesives, tekstil, electrical goods, Sinopec, SK Corporation, China, USA, South Korea.
Category:General News
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