LyondellBasell and Oiltanking Stolthaven finalize new chemical storage pact

MOSCOW (MRC) -- LyondellBasell, one of the major petrochemical global producers and the world's largest maker of polypropylene, and Oiltanking Stolthaven Antwerp has announced that Lyondell Chemie Nederland BV and Oiltanking Stolthaven Antwerp NV have signed a 10-year agreement for the storage and handling of Glacial Acetic Acid (GAA) and Vinyl Acetate Monomer (VAM) in Antwerp, reported LyondellBasell on its site.

As part of the agreement, Oiltanking Stolthaven will invest in new stainless steel storage capacity and rail loading infrastructure at Antwerp.

"GAA and VAM are industrial chemicals that are in high demand. Europe has an increased need for these imports. This agreement allows us to solidify our commitment to the European acetyls market and continue to serve our customers' needs far into the future," said Justin Hommes, Marketing Manager, Acetyls and BDO-Derivatives of LyondellBasell in Europe.

GAA is one of the world's most essential intermediate chemicals. It is used to manufacture VAM, purified terephthalic acid (PTA), acetic anhydride, monochloroacetic acid and acetate esters.

VAM is a chemical building block used to manufacture a wide variety of industrial and consumer products such as polyvinyl acetate for paints, adhesives and coatings. Polyvinyl alcohol is also used to make adhesives, coatings and water soluble packaging films. Polyvinyl acetals are used to produce insulation for magnetic wire, interlayers for safety glass, wash primers and coatings. Other related applications of ethylene vinyl acetate copolymers include flexible films, coatings, adhesives, moldings and insulation and packaging.

As MRC informed previously, LyondellBasell has just announced the opening of the 70,000-square-foot Houston Technology Center to develop process technologies and chemical catalysts for its Intermediates and Derivatives business. Research and development activities at the facility will focus on improving catalyst and process technologies to reduce manufacturing costs, improve yields, and lower capital costs of new construction for LyondellBasell's global chemicals business. Proprietary technologies supported at the site include propylene oxide, butanediol and derivatives, glycols and glycol ethers, acetyls, olefins and solvents.

Headquartered in the Netherlands, LyondellBasell is one of the world's largest plastics, chemical and refining companies. LyondellBasell manufactures products at 58 sites in 18 countries. The company produces chemicals, fuels, and polymers used for packaging, clean fuels, durable textiles, medical applications, construction materials, and automotive parts. LyondellBasell is also a leading licensor of polypropylene and polyethylene technologies. The more than 250 polyolefin process licenses granted by LyondellBasell are twice that of any other polyolefin technology licensor. LyondellBasell is also a global supplier of GAA and VAM. Its customers are served by a global storage and distribution network that spans North America, Europe and Asia.
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Borealis holds 75.05% of the shares in Rosier and announces a reopening of the bid

MOSCOW (MRC) -- Borealis, the company in fields of polyolefins, base chemicals and fertilizers, has announced that 46,368 Rosier shares were tendered in the framework of the mandatory public takeover bid launched by Borealis on 2 September 2013 on all Rosier shares which are not already held by Borealis, according to the company's press release.

This represents 42.15% of the total number of Rosier shares to which the public takeover bid relates. The publication of the results in the financial press, in accordance with article 32 juncto article 57 of the Royal Decree of 27 April 2007 on public takeover bids, took place on 9 October 2013.

The payment of the shares which were offered during the initial acceptance period was scheduled to take place on 11 October 2013.

After the initial acceptance period, Borealis will hold 191,368 shares or 75.05% of the shares issued by Rosier.

Borealis voluntarily reopened the bid from 14 October 2013 to 28 October 2013 (inclusive). The payment of the shares which will be tendered during the voluntary reopening is scheduled on 5 November 2013.

As MRC reported earlier, this summer Borealis closed an agreement with TOTAL to acquire its majority interest of 56.86% in Rosier SA.

Besides, Borealis is investing EUR65 million in upgrading its Borstar PE2 plant in Porvoo, Finland. The major project will upgrade the Borstar PE2 plant technology to the third generation and extend its platform. The Austrian company announced earlier this year that it was investing EUR25 million in Porvoo plant to install new hot oil heater unit at the phenol complex.

Rosier - is a mineral fertilizer manufacturer with two production facilities (Moustier in Belgium and Sas van Gent in the Netherlands) and markets its products in more than 80 countries worldwide. Rosier generated sales of EUR278 million in 2012.

Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. Borealis is headquartered in Vienna, Austria, and operates in over 120 countries with around 5,300 employees worldwide, generating EUR7.5 billion in sales revenue in 2012.
MRC

Technip awarded contract for FEED design for Sasol Lake Charles site in Louisiana

MOSCOW (MRC) -- Technip was awarded by Sasol a contract to supply its proprietary ethylene technology and front-end engineering design (FEED) for a world-class grassroots ethane cracker, said Plastemart.

This cracker, to be located at Sasol's Lake Charles site in Louisiana, USA, will produce an estimated 1.5 mln tpa of ethylene. Technip's operating center in Houston, Texas, will execute the FEED project, which is scheduled for completion by the end of 2013.

Stan Knez, Technip's Senior Vice President, Process Technology, commented: "We are pleased that Sasol selected our technology for this world-scale cracker, which will benefit from the current low US natural gas prices and abundance of ethane. As the largest ethylene licensor and contractor, Technip is proud to support Sasol's objectives to expand its downstream business in the US."

As MRC wrote earlier, ZapSibNeftekhim LLC, an affiliate of JSC Sibur Holding, awarded two front-end engineering and design (FEED) contracts to Technip for polyethylene plants located in Tobolsk, in the Tyumen region of Russia.
The first contract concerns a linear-low/high-density gas phase polyethylene plant.

Technip is a world leader in project management, engineering and construction for the energy industry.
Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.
MRC

South Korean Hyundai Heavy wins USD850 million order from Petronas

MOSCOW (MRC) - Hyundai Heavy Industries Co said on it had won a USD850 million order to build four liquefied natural gas (LNG) carriers from Malaysia's Petroliam Nasional Bhd (Petronas), said Reuters.

The South Korean shipbuilder said in a statement the carriers are scheduled to be delivered from the second half of 2016. Hyundai Heavy Industries has won a contract reportedly worth RM850mil from Petronas to build four 150,200-cubic metre, Moss-type liquefied natural gas (LNG) carriers to help meet its expanding global LNG business.

The contract, signed on Oct 10 in Seoul, South Korea, also includes options exercisable by Petronas to order four additional LNG carriers of the same class.

The spherical-type, new generation LNG carriers are scheduled for delivery from the second half of 2016. Petronas did not give any figures in its press statement but AFP reported that the contract was worth USD850mil.

Petronas said in its statement that MISC Bhd would act as the project manager and technical consultant to PETRONAS for the construction of these LNG carriers.

Hyundai Heavy Industries, set up in 1972, has become the world’s leading heavy industries company with diversified businesses that include shipbuilding, offshore engineering, industrial plant and engineering, engine and machinery, electro-electric systems, construction equipment, and green energy businesses.

Its shipbuilding division leads the global shipbuilding industry with a 15% share of the market.

As MRC wrote before, Petronas has signed an agreement with Eni-controlled Versalis to jointly own, develop, construct and operate elastomer plants within Petronas" proposed refinery and petrochemical integrated development (RAPID) complex in Pengerang, Johor.

Petronas, short for Petroliam Nasional Berhad, is a Malaysian oil and gas company wholly owned by the Government of Malaysia. The Group is engaged in a wide spectrum of petroleum activities, including upstream exploration and production of oil and gas to downstream oil refining; marketing and distribution of petroleum products; trading; gas processing and liquefaction; gas transmission pipeline network operations; marketing of liquefied natural gas; petrochemical manufacturing and marketing; shipping; automotive engineering; and property investment.
MRC

Arkema announces new blowing agent for polyurethane foams

MOSCOW (MRC) -- Arkema, a France-based chemical manufacturer, has announced commercialization in 2014 of Forane 1233zd, a new molecule for use as a low global warming potential (GWP) blowing agent for polyurethane foams, reported the company on its site.

Arkema has patented the use of Forane 1233zd as a blowing agent in the manufacture of polyurethane
foams. Forane 1233zd blowing agent provides exceptional energy performance and environmental benefits
over existing blowing agents, such as HCFC, HFC, and hydrocarbon molecules.

As a leading refrigerant gas and liquid blowing agent producer with global reach, Arkema is adapting to a world of ongoing regulatory changes, seeking for competitive, environmental-friendly solutions, and eager to bring effective support and dedication to its customers.

Fundamental to this commitment is Arkema’s wellestablished strategy to bring next-generation, low GWP technology to its global markets. The development of the Forane 1233zd blowing agent, in addition to Arkema’s recent announcement of planned production for the next-generation refrigerant, HFO-1234yf, are the latest milestones in this strategy.

Forane 1233zd blowing agent is a liquid, non-ozone depleting, non-flammable, high performance blowing
agent with a global warming potential of 7. Its target markets include polyurethane foams used in the manufacture of household refrigerators and freezers, commercial refrigeration, spray foam, and polyurethane panels for commercial and residential building and construction applications.

As MRC wrote previously, this summer, Arkema announced a comprehensive range of PEKK (Poly Ether Ketone Ketone) ultra high performance polymers comprised of three families of products whose properties meet the requirements of aerospace, oil exploration and electronics applications. These new materials significantly expand Arkema’s high performance materials offerings to high added value markets.

Arkema is a leading European supplier of chlorochemicals and PVC. Kynar and Kynar Flex are registered trademarks of Arkema Inc. As MRC reported previously, Moody's Investors Service had upgraded Arkema S.A.'s senior unsecured rating to Baa2 from Baa3. The outlook on the rating was changed to stable from positive.
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