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Air Liquide Benoit Potier to step down as CEO but to remain chairman

December 06/2021

MOSCOW (MRC) -- Air Liquide SA said Wednesday that its board of directors has decided to separate the roles of chairman and chief executive officer, and nominated a new CEO, according to MorningStar.

The French industrial-gases company will ask shareholders to appoint Francois Jackow CEO at its annual general meeting in May. The appointment will be effective June 1.

Mr. Jackow will succeed Benoit Potier. Mr. Potier will be up for renewal as chairman of the board of directors at the AGM, the company said.

Mr. Jackow has worked at Air Liquide since 1993 and is currently its executive vice president. He will also be nominated for a seat on the company's board.

As MRC reported earlier, Air Liquide and BASF plan to develop world largest cross-border CCS value chain. The goal is to significantly reduce CO2 emissions at the industrial cluster in the port of Antwerp. The joint project Kairos@C has been selected for funding by the European Commission through its Innovation Fund, as one of the seven large-scale projects out of more than 300 applications.

We remind that BASF aims is to electrify its production processes for basic chemicals, which are currently based on fossil fuels.

We also remind that in mid-February, BASF said it was restarting one of its steam crackers at its Ludwigshafen complex in Germany after operations were halted earlier that month due to a technical issue. The naphtha cracker produces ethylene and propylene, and is one of two crackers on the site. One has a production capacity of 420,000 metric tons/year, with the other"s capacity at 240,000 metric tons/year.

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 the first nine months of 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 PP random copolymers decreased significantly.
Author:Margaret Volkova
Tags:PP, PE, propylene, ethylene, gas processing, petrochemistry, Air Liquide, BASF, Belgium, Germany.
Category:General News
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