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Lotte Chemical US ethane cracker to start commercial operations in May

May 17/2019

MOSCOW (MRC) -- Lotte Chemical Corp said that its US ethane cracker in Louisiana is expected to commence commercial operations within May, reported Reuters.

With the commencement of the plant, the South Korean company hopes to boost its cost competitiveness by diversifying away from mainly naphtha as a feedstock to make ethylene, a key ingredient for petrochemical products, it said in a statement.

Lotte Chemicals US ethane cracker is a joint venture with Axiall Corp, which is now merged with Westlake Corp. Lotte owns an 88 percent in the plant, while Westlake Corp holds the remainder.

South Korean petrochemicals makers including Lotte Chemical, typically use naphtha derived from crude oil as a feedstock to make ethylene. Ethane crackers use ethane gas as a feedstock and can take advantage of cheap U.S. shale gas.

Lottes ethane cracker in the United States can produce 1 million tonnes of ethylene a year, taking Lotte Chemicals global ethylene output capacity to 4.5 million tonnes, the statement added.

At home, Lotte Chemical runs two naphtha crackers which have a combined ethylene production capacity of 2.2 million tonnes per year.

As MRC informed before, in May 2018, South Koreas major refiner Hyundai Oilbank Co. and petrochemical firm Lotte Chemical Corp. joined hands to build a heavy-feed petrochemical complex (HPC) at a combined investment of KRW 2.7 trillion (USD 2.5 billion).

South Korean Lotte Chemical is a global petrochemical company, established in 1976. It produces low density polyethylene (LDPE), high density polyethylene (HDPE), linear low density polyethylene (LLDPE), polypropylene (PP), functional resins, styrene monomer (SM), polyethylene terephthalate (PET), etc.


mrcplast.com
Author:Margaret Volkova
Tags:propylene, ethylene, Axiall Corporation, Honam Petrochemical, Lotte Chemical, Westlake Chemical, USA, South Korea.
Category:General News
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