Finnish Neste receives EUR88 mln to develop its green hydrogen and CCS project

Finnish Neste receives EUR88 mln to develop its green hydrogen and CCS project

MOSCOW (MRC) -- The EU Innovation Fund has given a positive grant decision of EUR88 million funding to Neste’s green hydrogen and CO2 capture and storage project, which aims to quickly and efficiently reduce greenhouse gas emissions at the Porvoo refinery in Finland, according to Hydrocarbon Engineering.

The project introduces carbon capture and storage (CCS) and electrolysis solutions that allow decarbonisation of production at the refinery. It is currently in the feasibility phase.

The project will strongly contribute to the reaching of both Finland’s and the EU’s climate targets and has a significant role in Neste’s target of carbon neutral production by 2035.

With this transformation project, a reduction of more than 4 million t of CO2 emissions can be achieved at the Porvoo refinery in the first 10 years of operation.

The company also aims to gather a network of leading European technology suppliers and R&D institutes, laying the foundation for a world-class European hub for renewable hydrogen and CO2 utilisation.

As MRC reported earlier, in July, 2021, Neste and LyondellBasell announced a long-term commercial agreement under which LyondellBasell will source Neste RE, a feedstock from Neste that has been produced from 100% renewable feedstock from bio-based sources, such as waste and residue oils and fats. This feedstock will be processed through the cracker at LyondellBasell’s Wesseling, Germany, plant into polymers and sold under the CirculenRenew brand name.

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 1,868,160 tonnes in the first nine months of 2021, up by 18% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,138,510 tonnes in January-September 2021, up by 30% year on year. Supply of propylene homopolymer (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding statistical copolymers of propylene (PP random copolymers) decreased significantly.

Neste (Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. The company refines waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. The company is the world’s leading producer of renewable diesel and sustainable aviation fuel, developing chemical recycling to combat the plastic waste challenge. In 2020, Neste's revenue stood at EUR11.8 billion, with 94% of the company’s comparable operating profit coming from renewable products.
MRC

Honeywell expands Baton Rouge facility to drive growth of low-global-warming technologies

Honeywell expands Baton Rouge facility to drive growth of low-global-warming technologies

MOSCOW (MRC) -- Honeywell has announced the expansion of its facility in Baton Rouge, La. to double the capacity of its Solstice ze (1234ze), an ultra-low-global-warming-potential (GWP) solution, according to CISION.

Solstice ze is used in foam insulation, as a propellant in personal and household care products, and in refrigeration and air conditioning applications.

Honeywell will invest significant capital in the facility for the growth of Solstice ze, which is part of the company's Solstice line of products based on hydrofluoroolefin (HFO) technology that helps customers lower their carbon footprint without sacrificing end-product performance.

The demand for low-GWP solutions continues to grow, and this new capacity will help meet the needs. Multiple global regulations stemming from the Kigali Amendment to the Montreal Protocol require the phasedown of hydrofluorocarbons (HFCs), driving the demand for sustainable solutions. Honeywell has already invested over one billion dollars in research, development and new capacity for its Solstice technology, having anticipated the need for lower-GWP solutions to combat climate change more than a decade ago.

About half of Honeywell's investment in new product introduction research and development is directed towards products that improve environmental and social outcomes for customers, such as Solstice. This aligns with the company's commitment to become carbon neutral in its facilities and operations by 2035, building on a track record to sharply reduce its greenhouse gas intensity as well as its decades-long history of innovation to help its customers meet their environmental and social goals. Worldwide adoption of Solstice products has avoided potential release of more than 250 million metric tons of carbon dioxide into the atmosphere, equal to eliminating the potential emissions from more than 52 million cars per year.

Honeywell is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Its technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable.

As MRC reported previously, Honeywell has recently announced the commercialization of a revolutionary process that expands the types of plastics that can be recycled and can produce feedstock used to make recycled plastics with a lower carbon footprint. The new technology can reduce the need for fossil fuels in the creation of virgin plastics while enabling hundreds of cycles of recycling, with the goal of enabling a circular economy for plastics. Honeywell's UpCycle Process Technology utilizes industry-leading molecular conversion, pyrolysis, and contaminants management technology to convert waste plastic back to Honeywell Recycled Polymer Feedstock, which is then used to create new plastics.

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 1,868,160 tonnes in the first nine months of 2021, up by 18% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,138,510 tonnes in January-September 2021, up by 30% year on year. Supply of propylene homopolymer (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding statistical copolymers of propylene (PP random copolymers) decreased significantly.
MRC

Brenntag Q3 profit increased on the back of strong demand

Brenntag Q3 profit increased on the back of strong demand

MOSCOW (MRC) -- Brenntag’s third-quarter profits rose year on year on the back of strong demand at its commodity and specialty chemical divisions, although the CEO of the Germany-headquartered distributor warned that market disruption would last “well into” 2022, said the company.

Base chemical division Brenntag Essentials saw a 29% annual increase in operating earnings before interest, taxes, depreciation and amortisation (EBITDA) on demand growth in Europe and the Americas. COVID-19 restrictions and environmental policy in China hit its Asia-Pacific performance.

Specialties division earnings rose 42% year during the quarter, with profits growing across all divisions, driven in particular by demand from the Americas. Site closures, redundancies and the shift from geographic divisions to commodity and specialty arms contributed EUR70m to operating EBITDA for the year so far.

Known as Project Brenntag, the process has seen the firm close 68 of 100 planned sites and made 740 out of a planned 1,300 redundant. The company confirmed full-year operating EBITDA guidance of EUR1.26-1.32bn, despite no expectation of an end to “exceptional and challenging” market conditions.

As per MRC, Brenntag, the market leader in chemical and ingredients distribution, has completed the process of changing from a German Aktiengesellschaft (AG), or stock corporation, to a European company, or Societas Europaea (SE). The company says it is now doing business as Brenntag SE. The conversion, which was announced by the company's management and supervisory boards in 2019 and approved at its 2020 annual shareholders' meeting, came into force when it was entered into the commercial register on 1 February 2021.

As MRC informed earlier, in April 2020, Brenntag say it had acquired the operating assets of Suffolk Solutions’ (Suffolk, Virginia) caustic soda distribution business. Financial terms of the deal have not been disclosed.
MRC

Sinopec signs gas supply deal with Venture Global LNG

Sinopec signs  gas supply deal with Venture Global LNG

MOSCOW (MRC) -- China Petroleum & Chemical Corp (Sinopec) has signed a 20-year contract to purchase 4m tonnes/year of liquefied natural gas (LNG) from US LNG producer and exporter Venture Global LNG, said Reuters.

The deal is the largest LNG long-term contract signed between Chinese and U.S. companies, Venture Global said in a statement. The LNG will be supplied from its plant in Plaquemines, Louisiana.

Ma Yongsheng, president of Sinopec, said the LNG purchase contract reflects a "high consensus on supporting the global energy transformation and realising the ‘dual carbon’ goals of reaching peak carbon and achieving carbon neutrality." "Sinopec has been vigorously promoting the high-quality development of the natural gas business and improving clean energy supply guarantee capabilities to continuously build a better life," Ma said.

In addition to the Plaquemines deal, a Sinopec subsidiary, China International United Petroleum & Chemicals (UNIPEC), “will purchase LNG resources totaling 3.8m tonnes” from Venture Global's Calcasieu Pass project in Louisiana, Sinopec added. Financial terms were not disclosed.

As MRC informed before, in August, 2021, Sinopec, the world's petrochemical major, launched the first phase of the Gulei refining complex in Zhangzhou city in China’s southeastern Fujian province. The refining complex, a 50:50 joint venture between Sinopec’s Fujian Petrochemical Company Ltd and Taiwan Xuteng Investment Company Ltd, invested 27.8 billion yuan (USD4.28 billion) in the first phase. That will result in an 800,000 tonnes per annum ethylene plant, a 600,000 tonnes per annum styrene unit and seven other downstream petrochemical units, Sinopec said.

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 1,868,160 tonnes in the first nine months of 2021, up by 18% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,138,510 tonnes in January-September 2021, up by 30% year on year. Supply of propylene homopolymer (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding statistical copolymers of propylene (PP random copolymers) decreased significantly.
MRC

Kemira expands its water treatment chemicals production in the UK

Kemira expands its water treatment chemicals production in the UK

MOSCOW (MRC) -- Global chemicals company Kemira announces the final completion of their production capacity expansion in the UK, as per the company's press release.

From November 15th, the annual production of ferric based water treatment chemicals in Goole will be increased by more than 100.000 tons annually.

Already in January 2021, Kemira increased product output of aluminum-based water treatment chemicals in Ellesmere Port by 30.000 tons.

“With the completion of the second investment phase Kemira has further strengthened its market position on the UK market. We are confident that this will also help to ease the immediate challenging supply situation of water chemicals into the UK water industry, says Craig Leishman, Senior Sales Manager UK, at Kemira.

Kemira produces in excess of 350,000 tons of water treatment chemicals annually in its four manufacturing sites in the United Kingdom: Ellesmere Port, Goole, Bradford and Teesport.

As MRC reported earlier, in September 2020, Kemira signed a multi year extension of its polymer supply agreement with Ithaca Energy. Kemira said it had signed a multiyear extension to its polymer supply agreement with Ithaca Energy (Aberdeen, UK). The agreement extends the contract between the two companies, signed in 2018, covering the supply of polymers to enhance oil extraction performance at one of the assets operated by Ithaca Energy in the UK North Sea.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,868,160 tonnes in the first nine months of 2021, up by 18% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,138,510 tonnes in January-September 2021, up by 30% year on year. Supply of propylene homopolymer (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding statistical copolymers of propylene (PP random copolymers) decreased significantly.

Kemira is a global leader in sustainable chemical solutions for water intensive industries. The company's focus is on pulp & paper, water treatment and oil & gas. In 2020, Kemira had annual revenue of around EUR2.4 billion and around 5,000 employees. Kemira shares are listed on the Nasdaq Helsinki Ltd.
MRC