MOSCOW (MRC) -- SK Energy plans to shut a CDU and a RHDS at the Ulsan complex in second-half of 2020, said Chemweek.
SK Energy has decided to pursue a deep change that boldly breaks the mold of the existing business structure and working method, recognizing that it’s not possible to survive or grow in this new normal with only the existing business portfolio focused on the existing oil business, amidst this low-carbon energy paradigm shift. The company has decided to innovate the business model in the two directions of 'Green' and 'Platform', based on eco-friendliness and digital technologies.
Securing carbon reduction technologies: All efforts to secure innovative technologies that can reduce greenhouse gases, is being made by SK Energy. It is taking the lead in discovering CCU (Carbon Capture & Utilization) technology that captures greenhouse gases (CO2) and reuse them as biofuels or raw chemical materials through chemical and biological processes.
Eco-friendly biofuel production and renewable energy business promotion: With the spread of the green paradigm the need for eco-friendly low-carbon fuels is continuing to increase. Major oil companies such as Shell and BP are reorganizing their portfolios around low-carbon businesses such as natural gas and renewable energy. Also participating in this trend, SK Energy, using the manufacturing facilities and infrastructure of the existing fuel products is reviewing ways to produce eco-friendly biodiesel and bio aviation oil.
At present, around 10 SK fuel service stations and NeTruck Houses are producing electricity through solar panel installations, and the company plans to keep expanding and will continue to review eco-friendly businesses that are the best fit for energy companies based on renewable energy such as solar power and hydrogen.
As MRC informed earlier, SK Capital (New York, New York) is acquiring a majority interest in Techmer PM (Clinton, Tennessee), a designer and producer of engineered compounds and polymer modifiers. John Manuck, president and CEO of Techmer, says access to the resources of SK Capital will allow Techmer to grow beyond North America.
We remind thatn SK Global Chemical, a subsidiary of SK Innovation, plans to shut down its production processes for ethylene and ethylene propylene diene monomer (EPDM) within its naphtha cracking center in Ulsan, South Korea. The 200,000-t/y naphtha cracker, which started commercial operation in 1972, and the EPDM unit, which began commercial operation in 1992, will be mothballed from December 2020 to shift the company's focus to high-value added chemicals.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).
According to MRC's DataScope report, PE imports to Russia dropped in January-June 2020 by 7% year on year to 328,000 tonnes. High density polyethylene (HDPE) accounted for the main decrease in imports. At the same time, PP imports into Russia rose in the first six months of 2020 by 21% year on year to 105,300 tonnes. Propylene homopolymer (homopolymer PP) accounted for the main increase in imports.
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