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INEOS to postpone shutting down of Forties Pipeline System until August

April 03/2020

MOSCOW (MRC) -- INEOS FPS has today responded to requests from customers and delayed its planned summer shut down of the Forties Pipeline System, as per the company's press release.

The decision has been taken in the face of the growing Corona Virus pandemic and the need to  avoid bringing together large numbers of people

INEOS will continue to work with our Government and customers to provide more information as soon as is practical.

INEOS FPS has today written to all its customers saying that there will be a delay to the FPS Summer Shutdown that was planned for June 16th 2020.  The Shutdown will not now start before August 2020 at the earliest.

INEOS is also mindful of the benefits of completing this project work to the future operation of FPS and the risks of not going ahead.  However, it recognises the importance of maintain a flow of oil and gas through FPS during the current situation.  The company found that there was an overwhelming desire to delay the shutdown by its customers which it is responding to.

In the coming days INEOS will continue to have discussions with its customers and other stakeholders to define the best dates to plan these projects.

As MRC informed before, in January 2019, INEOS announced Antwerp as the location for its new petrochemical investment. The EUR3 billion investment will be the biggest ever made by INEOS and is first cracker to be built in Europe in 20 years. The investment is a game changer for the chemical sectors and will bring huge benefits to the Belgium and wider European economies.

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

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 215,390 tonnes in the first month of 2020, up by 23% year on year. Shipments of all grades of high density polyethylene (HDPE) and linear low density polyethylene (LLDPE) increased due to higher capacity utilisation at ZapSibNeftekhim. At the same time, PP shipments to the Russian market were 127,240 tonnes in January 2020, up by 33% year on year. ZapSibNeftekhim's homopolymer PP accounted for the main increase in shipments.

INEOS is a global manufacturer of petrochemicals, specialty chemicals and oil products employing 22,000 people. It has 34 businesses, with a production network spanning 183 manufacturing facilities in 26 countries.


mrcplast.com
Author:Margaret Volkova
Tags:Europe, PP, PE, LLDPE, homopolymer PP, propylene, HDPE, ethylene, Ineos, Belgium, Russia.
Category:General News
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