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MOSCOW (MRC) -- The global ethylene market is expected to exhibit a 6.2% CAGR through 2017 and grow from USD 131.88 billion in 2012 to over USD 177.82 billion in 2017, reported Digital Journal.
In 2012, the North American ethylene market was worth more than USD 37.77 billion. The regional market is forecast to surpass the USD 46.6 billion mark in 2017, registering a 4.3% CAGR in the upcoming years.
The considerable growth in the North American ethylene market is likely to be spurred by the entrance of new companies attracted by the low-cost and abundant natural gas liquids (NGLs) feedstock. The US capacity additions are predicted to experience a 6.1% CAGR in the offing, likely to increase from 27.17 million metric tons per year (MMTY) in 2012 to almost 36.5 MMTY by 2017-end.
The Dow Chemical Company, LyondellBasell Industries N.V. and Exxon Mobil Corporation are among the leading companies engaged in the ethylene industry in North America.
As MRC wrote before, in late 2012, GlobalData predicted that the ongoing shale revolution wouldl guide the US ethylene industry surge in the near future, growing by more than a third by 2017.
Five years ago, the US was one of the most expensive places to produce ethylene, but the ethane-based US petrochemicals industry is now in a better position than the naphtha-based petrochemicals industries of Europe and Asia-Pacific, and second only to the Middle East in terms of production economy.
MRC
Global ethylene market to grow by 6.2% CAGR through 2017
Entergy Gulf States Louisiana to power Sasol ethane cracker
MOSCOW (MRC) -- Entergy Gulf States Louisiana, L.L.C. signed a six-year commercial and contractual agreement with Sasol North America, Inc., a wholly-owned subsidiary of Sasol Limited, to supply up to 200 megawatts of electric power to Sasol proposed ethane cracker and derivatives project in Westlake, La., beginning in mid-2015, said Plastemart.
Sasol announced in December 2012 that it would begin front end engineering and design (FEED) work for a world scale ethane cracker and derivatives facility to be located near the town of Westlake, La.
The estimated cost of the facility is between USD5-7 bln. It is currently envisioned that the final investment decision for the ethane cracker will be taken in 2014 with beneficial operation to be achieved in 2017. The ethane cracker is designed to produce 1.5 million tons per year of ethylene. Entergy Gulf States Louisiana plans to upgrade its electric transmission system to meet the increased demand the ethylene production facility is anticipated to generate.
"We are excited to have been selected to play an integral role in this significant project," said Phillip May, president and chief executive officer of Entergy Gulf States Louisiana, L.L.C. and Entergy Louisiana, LLC. "Working with Sasol to create the optimal solution to power the company's new Westlake facility is one of the ways we are proud to be a part of supporting the region – and Louisiana's – economic growth and vitality. Over the past several years in particular, Entergy has been working more closely than ever with public and private partners and key multinational companies like Sasol to custom-fit electric power solutions to business and industry needs.
Sasol Limited is an integrated energy and chemical company that began in Sasolburg, South Africa in 1950. It develops and commercialises technologies and builds and operates world-scale facilities to produce a range of product streams including liquid fuels, chemicals.
MRC
Braskem will acquire Argentine-Brazilian plastics maker Solvay Indupa for USD290 million
MOSCOW (MRC) -- Braskem, the largest polymer producer in the Americas and the world leader in biopolymers, announced today the execution of an agreement with Grupo Solvay for the acquisition of 70.59% of the total and voting capital of Solvay Indupa S.A.I.C., sid the producer in its prress release.
The acquisition confirms Braskem's commitment to develop the petrochemical and plastics industries in Brazil and South America by strengthening the vinyls chain and by its decision to continue investing to support the growth of its clients. It also establishes an industrial base in Argentina, a market in which Braskem already has maintained a commercial presence for over 20 years.
The transaction price is USD290 million. The consummation of the sales agreement will depend on prior analysis and approval by Brazil's antitrust agency CADE (Conselho Administrativo de Defesa Economica). Following the transaction's conclusion, Braskem will launch a public tender offer to non-controlling shareholders for the purchase of shares in Solvay Indupa on the Buenos Aires Stock Exchange.
Solvay Indupa produces PVC and caustic soda and owns two integrated industrial facilities in Brazil and Argentina that enjoy privileged geographic positions close to South America's two major consumer markets. Created in 1948, Solvay Indupa has annual production capacity of 540 kton of PVC and 350 kton of caustic soda. Once the acquisition is finalized, Braskem will increase its annual production capacity to 1.25 million tons of PVC and 890 kton of caustic soda.
Indupa, with a manufacturing capacity of more than 500,000mtpa of polyvinyl chloride (PVC), runs facilities at Santo Andre, Brazil, and Bahia Blanca, Argentina. Solvay, with a market share 27%, is the second largest PVC manufacturer in Europe, after Kerling with 29% of the market.
"Vinyls is a strategic market for our company. Braskem recently invested around R1 billion in a PVC plant in the state of Alagoas, which was inaugurated in 2012, in order to meet the strong growth in demand for this resin associated with the growth in Brazil's infrastructure sector," said Carlos Fadigas, CEO of Braskem.
UK to introduce plastic banknotes in 2016
The polymer notes will retain "the familiar look of Bank of England banknotes", including the portrait the Queen and a historical character.
The first polymer note will be the GBP5 note featuring Sir Winston Churchill and will be issued in 2016. It will be followed around a year later by a polymer GBP10 note featuring Jane Austen.
The bank’s decision follows a three-year research program, which concluded that plastic notes are cleaner, more durable and more secure than their paper counterparts. There has also been an "overwhelmingly supportive" response from the public, it added.
The bank’s research showed that polymer banknotes are cleaner, more secure, and more durable than their paper counterparts. They will also provide enhanced counterfeit resilience, and are more environmentally-friendly than paper. Because they last longer, polymer banknotes are cheaper over time than paper.
Resistant to dirt and moisture, polymer banknotes are made from a transparent plastic film, coated in an ink layer that carries the printed design features. The material allows for 'windows' or transparent areas in the design which discourage counterfeiting because they require several machines to make.
The new notes will cost around 50% more to produce, but the Bank estimates it will save GBP100m as it will need to replace the notes far less frequently.
MRC
QP and Qaprco awarded FEED contract to Technimont for Al Sejeel Petrochemical Complex
MOSCOW (MRC) -- Qatar Petroleum (QP) and Qatar Petrochemical Company (QAPCO) have signed the FEED contract with Tecnimont SpA for the Al Sejeel Petrochemical Complex, to be built in Ras Laffan Industrial City, according to the Qapco's statement.
The signing of the FEED contract for the project, in which QP and QAPCO own respectively 80% and 20% equity interest, marks a strategic milestone for the progress of the mega-petrochemical complex.
The complex's construction scheduled for completion in 2018. It will comprise the worlds largest mixed-feed steam crackers, and is designed to produce 2.2 million tpa of polymers, including polyethylene (PE) - high density polyethylene (HDPE) and linear low density polyethylene (LLDPE) - and polypropylene (PP) resins.
Al Sejeel Petrochemical Complex will surely be unique in terms of its feedstock, as it will assure production efficiency and access to a steady supply of critical chemical building blocks while increasing its global competitiveness. The plants will be processing several feed types simultaneously, namely ethane, butane, and naphtha, ensuring an optimum use of natural resources and allowing extra flexibility and diversity in terms of products.
"It is the vision of our leadership to harness the tremendous potential of the petrochemical sector, and to embark on a large-scale expansion of our downstream industry. To this end, we aim to raise our petrochemical output to 23 million tpa by 2020, thus supporting the growth and diversification of the Qatari economy," Dr. Al-Sada added.
Over the course of one year the project has achieved significant progress.
As MRC informed previously, this summer, QP and Qapco signed technology licence contracts for the multibillion dollar Al Sejeel petrochemical complex with Univation Technologies for the PE technology and Dow Chemical for PP technology. The Project Management Contract (PMC) was also awarded, marking the firm progression of the project, as Al Sejeel is entering phase IV.
Tecnimont SpA is a leading global engineering, procurement and construction (EPC) with a vast experience to execute large and complex projects worldwide, being in particular the market leader in polyolefin with about 30% of world installed capacity. In Qatar Tecnimont has already experience as EPC contractor for petrochemicals.
Qatar Petroleum is a state owned petroleum company in Qatar.
Qatar Petrochemical Company (QAPCO) is a Qatar-based company established in 1974 and is a joint venture between Industries Qatar (80%) and Total Petrochemicals (20%). The company is currently one of the largest producers of low density polyethylene (LDPE) in the region. In addition to LDPE, QAPCO also produces linear low density polyethylene (LLDPE), ethylene, and sulfur, which it sells to over 4500 industry customers in 145 countries through its extensive global marketing network.
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