Gazprom and Gazprombank to jointly implement Baltic LNG and Vladivostok LNG projects

MOSCOW (MRC) -- An Agreement of Cooperation as part of LNG projects was signed at the Gazprom headquarters by Alexey Miller, Chairman of the Gazprom Management Committee and Andrey Akimov, Chairman of the Gazprombank Management Board, said Hydrocarbonprocessing.

According to the Agreement, the parties will cooperate within the Baltic LNG and Vladivostok LNG projects.

Gazprom will be the majority shareholder in the project companies set up to implement the Baltic LNG and Vladivostok LNG projects. Gazprombank will have an opportunity to acquire a stake in the project companies.

We remind that, as MRC informed earlier, Gazprom can return to the construction of LNG plant with the nominal capacity of 7 million tonnes in Primorsk (Leningrad region).

The project companies, among other things, will own LNG plants along with other necessary production facilities as well as manage the projects at all stages, including the development of project documents.

Gazprom is the largest extractor of natural gas and one of the largest companies in the world. Its headquarters are in Moscow. Gazprom was created in 1989. The company was later privatised in part, but currently the Russian government holds most of the control in its hands.
MRC

MOSCOW (MRC) -- Institut de recherche d'Hydro-Quebec (IREQ) and Arkema, a France-based chemical manufacturer, have announced that they have reached a collaborative research agreement for the development of a new highly safe electrolyte from fluoride and non-fluoride salts produced by Arkema, according to the company's statement.

Accordingly, Arkema has signed a licensing contract on the technology of its fluoride salts to IREQ which will hold intellectual property rights.

This cooperation venture is excellent news for both the automotive and the electrification of private and public transport industries, which are seeking high-quality cost-effective technologies for the development of materials for electric batteries. This new electrolyte will be suitable for use in lithium-ion and lithium-polymer battery technologies - both already on the market and next generation.

"This partnership is strategic for Arkema: it will enable us to speed up our developments and validate our solutions for batteries thanks to IREQ’s world-renowned expertise in lithium-ion batteries. This collaboration is a boost to Arkema’s commitment to the development of renewable energies", explains Ian Cayrefourcq, Director - Emerging Technologies, Arkema.

As MRC informed previously, in November 2013, Arkema officially started its new 60,000 MTY emulsion polymers facility on its Changshu platform. The plant, part of Arkema’s Coating Resins business unit, will serve customers in the Asia Pacific region with a full line of waterborne emulsion polymers for coatings and adhesives applications.

Arkema with annual revenue of EUR6.4 billion is a leading European supplier of chlorochemicals and PVC. Kynar and Kynar Flex are registered trademarks of Arkema Inc.
MRC

Moscow (MRC) - Emergency shutdown of production at Stavrolen and rouble devaluation were the main factors for the increase in polypropylene (PP) prices in the Russian market in March. The largest price increase was recorded in the propylene copolymers market, according to ICIS-MRC Price Report.

Russia's PP price rose in the first week of March, helped by the shutdown at Stavrolen (LUKOIL) and a significant weakening of the rouble against the dollar, resulting in the feedstock price rise. Besides, propylene copolymers market was affected by noticeable rise in prices of imported material.

In contrast to the market of high density polyethylene (HDPE), where Stavrolen's shutdown led to a sharp jump in price, PP market reacted more calmly.

In the first week of March price offers for homopolymer PP of raffia grade in the spot market rose to Rb60,500-63,000/tonne CPT Moscow, including VAT.Lower price end level was typical for February residues that appeared earlier last week in the market. Ufaorgsintez suspended raffia sales in the spot market on Friday.

Price offer for injection moulding homopolymer PP were heard in the range of Rb64,000-67,500/tonne CPT Moscow, including VAT. Some market participants reported a tight supply in the market.

Poliom is likely to stabilise the situation in the second half of March; the producer plans to produce injection moulding grades from 14 March.

Propylene copolymers prices grew more sharply. During last week price offers for injection moulding block copolymer of propylene (PP-block) in the spot market rose to Rb75,700 - 80,500/tonne CPT Moscow, including VAT. Some market participants did not rule out further price increase of propylene copolymers in the second half of the month, on the back of a significant price rise of imports, resulting in its reduction.
MRC

MOSCOW (MRC) -- The Polish producer Synthos Dwory has announced prices of expandable polystyrene (EPS) for March shipments, according to ICIS-MRC Price report.

The plant's prices of 0308 grade remained at the February's level and were at EUR1,480/tonne FCA Oswiecim, excluding VAT. Prices of other grades were heard at EUR1,530/tonne FCA Oswiecim, excluding VAT.

In its turn, the strong euro makes European prices uncompetitive in Ukraine, resulting in a shift towards Russian grades.

Prices of Russian EPS at Ukrainian traders' warehouses also fell sharply this week, following the strengthening of the national currency. Buying activity is good in the Ukrainian EPS market, a trader said.
MRC

MOSCOW (MRC) -- Idemitsu Kosan, one of Japan’s largest refining and petrochemical companies, is in plans to shut its aromatics plant for maintenance turnaround, reported Apic-online.

A Polymerupdate source in Japan informed that the plant is planned to be shut in July 2014. It is likely to remain shut for around 50 days.

Located in Chiba, Japan, the plant has a PX capacity of 265,000 mt/year, benzene capacity of 577,000 mt/year and MX capacity of 353,000 mt/year.

As MRC informed earlier, Idemitsu Kosan is in plans to shut its SM plant for maintenance turnaround in April 2014. It will remain off-stream for around one month. Located in Chiba, Japan, the plant has a production capacity of 210,000 mt/year.

We remind that in 2013, Dow Chemical signed a long-term ethylene off-take agreement with a new Japanese joint venture that will allow the chemical producer to enhance its performance plastics franchise. The joint venture is being formed between Japanese companies Idemitsu Kosan and Mitsui & Co. to construct and operate a Linear Alpha Olefins unit on the U.S. Gulf Coast.

Idemitsu Kosan is a Japanese petroleum company. It owns and operates oil platforms, refineries and produces and sells petroleum, oils and petrochemical products. The company runs two petrochemical plants in Chiba and Tokuyama. The two naphtha crackers can produce up to 997,000 tonnes of ethylene per year.
MRC