GE Oil & Gas along with Technip to supply compressors for the Shell Prelude FLNG project

(Arabian oil and gas) -- GE Oil & Gas has entered into an agreement with Technip to supply two steam turbine-driven compressors for the Shell Prelude Floating Liquefied Natural Gas (FLNG) project. The facility, which is to be based offshore Australia, will be the largest floating offshore facility in the world. Technip and Samsung Heavy Industries (SHI) formed a consortium (TSC) which Shell has tasked to engineer, procure, construct and install the Prelude FLNG facility.

The GE compression trains will be vital elements of the liquefaction process, which cools natural gas to a liquid state. In addition to the supply of the steam turbines and compressors, the scope of GE's agreement with Technip France includes start up and two years of training, operation and spare parts.

Shell's FLNG facility will be moored at the Prelude gas field, about 200 kilometers off Western Australia's Kimberly Coast. Offshore fields such as Prelude may hold significant quantities of natural gas, but many are at great distances from land or the nearest pipeline. Tapping into these ⌠stranded gas resources has been nearly impossible until now. The Shell FLNG facility addresses this industry challenge.


By 2015 Saudi Arabia's ethylene and propylene capacities will rise to 16.52mn tpa and 6.55mn tpa

(Zawya) -- By 2015, BMI forecasts ethylene and propylene capacities will rise to 16.52mn tpa and 6.55mn tpa respectively, with Saudi Kayan's commercial operation in 2011 set to contribute most to the increase, according to BMI's latest Saudi Arabia Petrochemicals Report. Compared with 2010, total PE capacity will rise 20% to 8.86mn tpa, PP will rise 11% and PS, PET and
PVC capacities will remain unchanged. Ethylene capacity in 2015 is forecasted to be more than double that of 2008 levels, with Jubail and Yanbu the focus of petrochemicals developments.

Technical problems at Sahara Petrochemicals' Al-Waha plant and at Petro Rabigh have adversely
affected PP output. The temporary closures did not affect supplies, which were maintained through
inventories, although BMI expected a negative impact on profitability at the respective plants. On the
upside, NatPet resumed operations at its Yanbu-based 400,000tpa PP complex after completing a
scheduled maintenance 11 days before the 60-day turnaround was due to be completed. The scheduled maintenance aimed to increase the operational rate of the complex, which was started in August 2010 but experienced two shutdowns in H111 due to technical problems and power outages, causing losses of more than US$11mn.


Time Technoplast to set up an industrial packaging plant in Malaysia

(India Report) -- Polymer products company Time Technoplast today said it will set up an industrial packaging plant in Malaysia. "The project is likely to commence production at the end of Q1, 2012,"Time Technoplast said in a filing to the BSE.

The company will manufacture plastic packaging products, including intermediate bulk containers, plastic drums and containers, in Malaysia. "This project is a part of our Asian vision. We have aggressive plans to be in all major markets in Asia and to become a dependable one stop shop for polymer based industrial packaging products,"Time Technoplast Chief of International Business C Hubert said.


Azerbaijan's proved hydrocarbon reserves hit 4.2bln tons of equivalent fuel

(Trend) -- Azerbaijan's proved hydrocarbon reserves made up 4.2 billion tons of equivalent fuel, State Oil Company of the Azerbaijan Republic (SOCAR) head Rovnag Abdullayev said in his interview with the New Azerbaijan Party's official website.

He said the projected level of reserves is 10 billion tons of equivalent fuel . Azerbaijan has more than 40 off-shore and on-shore structures for drilling.

Reserves of the prospective structures such as Babak are estimated at 400 billion cubic meters of gas and 80 million tons of condensate, Nakhchivan - 300 billion cubic meters of gas and 40 million tons of condensate and deep gas reserves of the Azeri-Chirag-Guneshli at 300 billion cubic meters.

Oil production will be brought to 50-55 million tons and gas up to 30 billion cubic meters in 2015, Abdullayev said. Today, the proved gas reserves exceed 2.5 trillion cubic meters in Azerbaijan.


Asia's benzene market may turn weak in the fourth quarter

(ICIS) -- Asia's benzene market may turn weak in the fourth quarter as regional demand from the styrene monomer (SM) sector, as well as US' imports of the aromatics product, traditionally slackens towards the end of the year, industry sources said on Tuesday. SM production is the largest downstream for benzene, using up an estimated 50-55% of Asia's output of the material.

Spot benzene prices in Asia were hovering at about USD 1,070-1,085/tonne (EUR 781-792/tonne) FOB (free on board) Korea on Tuesday morning, according to ICIS.

At present, regional demand for benzene from the SM sector is steady, as SM producers currently generate robust margins, market sources said.

But the onset of the winter season from November in northeastern Asia usually leads to a slowing of demand for SM and, consequently, for benzene. Because of the freezing weather, there is less activity in the construction industry, which is a major end-user of SM.