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Oman USD6.7bln petchem project enters commissioning phase

May 20/2020

MOSCOW (MRC) -- Energy powerhouse OQ (formerly Oman Oil and Orpic Group) has announced the launch of the commissioning phase of Liwa Plastics Industries Complex (LPIC), a giant petrochemicals project being set up at an investment of USD6.7 billion, according to ZAWYA.
 
This transformational project will firmly put the Sultanate on the global petrochemicals map and enhance OQ, stated the Oman Observer, citing the wholly government-owned energy conglomerate in a tweet.

Located within Sohar Port, with an upstream Natural Gas Extraction (NGL) around 300 km away in Fahud, Liwa Plastics is OQs signature investment.
 
At full capacity, Liwa Plastics will boost OQs production of polyethylene and polypropylene to 1.4 million tonnes.
 
The product portfolio will include linear Low-Density Polyethylene (LLDPE), High-Density Polyethylene (HDPE) and Polypropylene (PP). The improvement of the product mix helps OQs partners to address the growing global demand for innovative polymers.
 
In addition to maximizing value addition to the nations hydrocarbon wealth, the mega venture will also spawn investments in a wide array of downstream activities.

The LPIC steam cracker project will allow polyethylene (PE) to be produced in Oman for the first time, as well as strengthen the companys polypropylene (PP) capabilities.

As MRC wrote before, in February 2020, Oman, the biggest Middle East oil producer outside OPEC, awarded France's Total and Thailand's PTTEP rights to explore and develop non-associated gas deposits in the sultanate, which is ramping up exploration and development of gas resources.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 557,060 tonnes in the first three month of 2020, up by 7% year on year. High density polyethylene (HDPE) and linear low density polyethylene (LLDPE) shipments rose because of the increased capacity utilisation at ZapSibNeftekhim. Demand for LDPE subsided. At the same time, PP shipments to the Russian market was 267,630 tonnes in January-March 2020, down 20% year on year. Homopolymer PP and PP block copolymers accounted for the main decrease in imports.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, LLDPE, crude and gaz condensate, PP block copolymer, homopolymer PP, propylene, LDPE, HDPE, ethylene, gas processing, petrochemistry, Orpic, Total Petrochemicals, Oman, Rossiya.
Category:General News
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