Borealis to focus on major growth projects in 2018

MOSCOW (MRC) -- Leading polymer producer Borealis will focus on advancing major global growth projects throughout 2018, CEO Mark Garrett said, as per Apic-online.

Speaking to S&P Global Platts, Garrett highlighted Borealis and Nova Chemicals joint venture with Total on the US Gulf, which includes the construction of an ethane steam cracker in Port Arthur, as one such major global growth project.

Investment plans for a new propane dehydrogenation (PDH) unit at Kallo, Belgium, at the company's existing site near Antwerp, will also be a major focus of attention in 2018.

Garrett previously said a final investment decision on the PDH unit would be made in September.

"Then we have the Borouge 4 project in the UAE, which is a little bit further away from the final investment decision than the other two," Garrett said.

Borealis' joint development agreement with United Chemical Company for the creation of a polyethylene project with an integrated ethane cracker in Kazakhstan, is the fourth major project Borealis is working on.

"We have these four really big, significant (projects). We have other projects as well, but these are all the sort of multi-billion dollar megaprojects," Garrett said.

As MRC informed earlier, in April 2016, Borealis AG and PAO Gazprom, the world's gas major, signed a Memorandum of Understanding. The document reflects the parties' interest in evaluating opportunities to develop joint gas chemical projects in Russia.

Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, Borealis currently employs around 6,500 and operates in over 120 countries.
MRC

MOSCOW (MRC) -- Solvay has celebrated the opening of Solvay Solar Energy-Jasper County, South Carolina’s largest solar farm, which helps meet the increasing demands from customers to source products manufactured with renewable energy, as per the company's press release.

Last year Solvay agreed to buy all the renewable energy certificates (RECs) produced by the 71.4-megawatt farm for 15 years, with more than 250,000 solar panels covering an area as large as 500 soccer fields. Owned by Dominion Resources, Inc., the farm was commissioned in December 2017.

"This agreement is part of Solvay's plans to expand its renewable energy sources to reduce our own greenhouse gas intensity as well as those of our customers, including Apple, which uses renewable power for its own operations," said Jean-Pierre Clamadieu, CEO of Solvay.

"We’re thrilled to work alongside our suppliers like Solvay to transition to cleaner energy sources. Renewable energy investments are good for the environment and good for business. This is why Apple is now powered by 100 percent renewable energy and 23 of our suppliers, including Solvay, have committed to using 100 percent renewable energy," said Lisa Jackson, Apple’s Vice President of Environment, Policy and Social Initiatives.

Solvay’s Specialty Polymers Global Business Unit has pledged to use 100 percent renewable power for all Apple production, currently across 10 manufacturing facilities in six countries. Solvay supplies materials used in Apple devices, such as the iPhone’s antenna band.

As MRC informed before, in early July 2016, Solvay completed the divestment of its shareholding in Inovyn (London), bringing to an end Solvay's chlorvinyls joint venture with Ineos. Solvay received exit cash proceeds amounting to EUR335 million (USD370.7 million). The dissolution of the jv follows regulatory clearances from the relevant authorities.

Inovyn was formed on 1 July 2015 as a jv between Ineos and SolVin, a subsidiary of Solvay. Solvay and Ineos signaled their decision to end their chlorvinyls jv in March this year.

Solvay, with a market share 27%, is the second largest PVC manufacturer in Europe, after Kerling with 29% of the market. Solvay is headquartered in Brussels with around 24,500 employees in 61 countries. Net sales were EUR10.1 billion in 2017, with 90% from activities where Solvay ranks among the world’s top 3 leaders, resulting in an EBITDA margin of 22%.
MRC

MOSCOW (MRC) -- PTT Global Chemical (PTTGC) has announced that Auria Biochemicals Co., a joint venture of PTTGC and Myriant Corp., will be dissolved, as per Apic-online.

On 12 Apr. 2018, at a general meeting of Auria shareholders, a resolution was passed to dissolve the joint venture, which was established in 2013 to conduct research and development of bio-based chemicals in order to enhance Myriant's technology. Myriant is a wholly-owned subsidiary of PTTGC.

PTTGC said the decision was based on low crude oil prices and "unfavorable" conditions for applying intellectual
property on bio-based succinic acid in South East Asia making it not feasible to invest in commercial production.

As MRC wrote before, PTTGC restarted LLDPE plant on 3 April, 2016, following a maintenance turnaround. The plant was shut for maintenance in early-March 2016. Located at Map Ta Phut in Thailand, the LLDPE plant has a production capacity of 400,000 mt/year.

PTT Global Chemical is a leading player in the petrochemical industry and owns several petrochemical facilities with a combined capacity of 8.45 million tonnes a year.
MRC

MOSCOW (MRC) -- Oman Oil Refineries and Petroleum Industries Company (Orpic) has launched a new thermoforming grade called Luban HP1151K that will increase both productivity and the overall performance of transparent thermoformed cups, trays and containers, as per the company's press release.

The new PolyPropylene thermoforming grade is based on Milliken's nucleating innovation Hyperform HPN-600ei.

Orpic’s Luban HP1151K combines high clarity and aesthetics with a new level of superior dimensional stability for thermoformed products. Luban HP1151K is based on the latest technology available to offer the food packaging and household storage solutions industries a new benchmark in pure, high quality PP.

Apart from being able to increase the number of articles that can be produced, the high quality finished products provide good stacking performance. It also offers a broad processing window that opens up distinct product quality and consistency advantages plus the all-important productivity benefits for converters.

Additionally, the grade delivers optimal environmental and handling-related advantages associated with using lightweight PP compared to other materials.

Gilles Rochas, General Manager - Polymer, Orpic says, "The product has a good resin base and tests conducted so far have been successful. Luban HP1151K reduces haze in the product and increases clarity and gloss. We are confident that upon introduction of Luban HP1151K, this high quality product will offer Oman and the international packaging customers an opportunity to reduce their cycle times and achieve better results through less wastage whilst offering all-round productivity improvements."

Hyperform HPN-600ei also offers good organoleptics with no contamination risk making Luban HP1151K suitable for food applications.

As MRC informed before, Orpic plans to raise capacity of its PP plant to 340,000 tpa of high quality PP from 200,000 tpa.

Orpic (Oman Oil Refineries and Petroleum Industries Company) is one of the leading companies in Oman and has two refineries in that country, in Sohar and Muscat. ORPIC is owned by the Government of the Sultanate of Oman and Oman Oil Company SAOC, the trading company created by the Government of the Sultanate of Oman for managing investments in the energy sector.
MRC

MOSCOW (MRC) -- The contract price of propylene in Europe was agreed by EUR25/tonne higher than in April, but most European producers announced a roll-over of April export prices of polypropylene (PP) for May shipments to the CIS markets, according to ICIS-MRC Price report.

In some cases, however, prices went up by EUR30/tonne from April.

Negotiations over May prices of European PP have been actively conducted this week, some deals will be agreed only next week. All market participants reported the roll-over of April export prices of propylene polymers for this month, except for two producers, which increased their prices of homopolymers of propylene (homopolymer PP) by EUR30/tonne from April.

Deals for May shipments of homopolymer PP were discussed in the range of EUR1,120-1,155/tonne FCA, whereas April deals were negotiated in the range of EUR1,090-1,155/tonne FCA. Some producers have already had restrictions for export of injection moulding homopolymer PP for two months.

Deals for block copolymers of propylene (PP block copolymers) were discussed in the range of EUR1,210-1,250/tonne FCA, which corresponded to April prices.
MRC