London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950
info@mrcplast.com

Our Clients

Order Informer

 
Home > News >
 

Qatar Petroleum signs 10-year LPG supply agreement with Chinese Wanhua Chemicals

November 15/2019

MOSCOW (MRC) -- Qatar Petroleum said on Wednesday it had signed a 10-year Liquefied Petroleum Gas (LPG) supply agreement with Chinas Wanhua Chemicals, reported Reuters.

The agreement is for the sale of approximately 800,000 metric tons per year of LPG over a period of 10 years, the firm said in a statement on Wednesday.

As it was reported earlier, Chinas top petrochemical maker Wanhua Chemical Group aims to increase LPG imports to about 5.5 million mt in 2020 from 4 million mt this year as it procures feedstock from diversified sources ahead of new projects in Yantai and widens trading activities in Asia.

A 1 million mt/year ethylene integration project - phase two of its petrochemical project in northeast Shandong province - will be the first ethylene cracker to use LPG as feedstock globally and is set for commercial production in the second half of 2020. Together with associated downstream units and a nearby feedstock storage rock cavern with a capacity of 1.2 million cubic meters, the project is costing around Yuan 20 billion.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,589,580 tonnes in the first nine months of 2019, up by 7% year on year.  Shipments of all PE grades increased. The estimated PP consumption in the Russian market was 976,790 tonnes in January-September 2019, up by 4% year on year. Shipments of PP block copolymer and homopolymer PP increased.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, PP block copolymer, homopolymer PP, propylene, ethylene, Yantai Wanhua, QP, Qatar, China, Russia.
Category:General News
|
| More

Leave a comment

MRC help

 


 All News   News subscribe