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TotalEnergies expects rise in use of renewable energy in future

September 30/2021

MOSCOW (MRC) -- TotalEnergies said that it expected a big rise in renewable-based electricity, solar and wind forms of energy, partly due to a general increase in electrification in the industrial and business world, reported Reuters.

TotalEnergies added it expected that oil in general would plateau before 2030, while natural gas would continue to play a role as a transition fuel.

Producers and traders had said at an industry conference on Monday that global oil demand was expected to reach pre-pandemic levels by early next year as the economy recovers, although spare refining capacity could weigh on the outlook.

As MRC wrote previously, the gasoline-producing fluidic catalytic cracker (FCC) is expected to remain shut until the end of September at TotalEnergies SEТs 225,500-barrel-per-day (bpd) Port Arthur, Texas, refinery.

We remind that in November 2019, Total disclosed that it is evaluating construction of a new gas cracker at its Deasan, South Korea, joint venture (JV) with Hanwha Chemical.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,396,960 tonnes in January-July 2021, up by 7% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 841,990 tonnes in the first seven months of 2021, up by 29% year on year. Supply of propylene homopolymers (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of statistical copolymers of propylene (PP random copolymers) subsided.

TotalEnergies is a broad energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables, and electricity. The company rebranded itself from Total to TotalEnergies during Q2 2021. The French firm has announced allocating part of surplus revenues to share buybacks. Its 105,000 employees are committed to energy that is ever more affordable, clean, reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.


mrcplast.com
Author:Margaret Volkova
Tags:Europe, crude and gaz condensate, propylene, ethylene, petrochemistry, recikling, Hanwha Total, Total Petrochemicals, USA, South Korea.
Category:General News
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