Technip Energies with Agilyx to accelerate implementation of PS recycling technology

Technip Energies with Agilyx to accelerate  implementation of PS recycling technology

MOSCOW (MRC) -- Technip Energies announced the initiation of an agreement with Agilyx Corporation, a wholly owned subsidiary of Agilyx AS, and pioneer in the advanced recycling of post-use plastics, said Hydrocarbonprocessing.

This collaboration aims to accelerate the implementation of Agilyx’s technology for the advanced recycling of post-use polystyrene. Under this agreement, Technip Energies will market and license the integrated technologies of Agilyx depolymerization and Technip Energies purification technology, leveraging the expertise, resources, and global presence of respective companies. The technology is ready and available for licensing.

Both companies bring strong, specialized experience to this offering: Agilyx contributes its deep experience in chemical recycling of post-use plastics, while Technip Energies has extensive experience in scaling-up technology which will increase the plastic recovery.

Stan Knez, Chief Technology Officer of Technip Energies, stated “We are delighted to scale-up this sustainable process to market with Agilyx, providing a reliable circular economy technology for a major plastic used widely throughout the world."

Tim Stedman, CEO of Agilyx, said: “We’re excited to be working with Technip Energies. This partnership further accelerates the deployment of polystyrene circularity in the market, broadening polystyrene recyclability."

Agilyx’s proprietary advanced recycling technology converts post-use plastics back into their original chemical components such that they can be used to produce high-quality products that can be recycled indefinitely, without degradation.

As per MRC, Technip Energies provided the proprietary technology and process design for Hengli Petrochemical (Dalian) Chemical Co. Ltd.’s (Hengli) mega 1,500 kta(1) liquid ethylene plant in Dalian, Liaoning Province, China. The plant successfully started up at the beginning of 2020 to reach its capacity shortly after the start-up, and despite COVID-19 context, passed all performance guarantees and the final acceptance test in the fourth quarter.

As MRC reported earlier, Technip Energies has been recently awarded a significant Engineering, Procurement, Construction and Commissioning (EPCC) contract by Indian Oil Corporation Limited (IOCL) for its BR9 Expansion Project in Barauni, Bihar, in the Eastern part of India. This EPCC contract covers the installation of a new Once-through Hydrocracker Unit (OHCU) of 1 million metric tonnes per annum (MMTPA) capacity, a Fuel Gas Treatment Unit (FGTU) and the associated facilities.

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 576,270 tonnes in the first three month of 2021, up by 4% year on year. Low density polyethylene (LDPE) and high density polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market totalled 410,890 tonnes in January-March 2021, up by 56% year on year. Supply of homopolymer PP and PP block copolymers increased.

SIBUR to close deal with TAIF in September - L. Mikhelson

SIBUR to close deal with TAIF in September - L. Mikhelson

MOSCOW (MRC) - SIBUR's deal with TAIF is expected to close in September, Finam reports, citing Leonid Mikhelson, co-owner and head of the board of directors of SIBUR Holding, during a briefing at the SPIEF.

“We expect the deal to be closed, there are a lot of procedures to be done, sometime in September,” he said. The remaining 49% stake will be purchased later. In addition, it became known that an IPO of the SIBUR petrochemical holding this year is unlikely. "SIBUR's IPO this year is unlikely, most likely it will happen in 2022. We will accelerate with this issue," L. Mikhelson also said. SIBUR began preparations for the placement of its shares on the stock exchange in 2018. The company has hired several banks to advise on the matter, but the exact timing and details of the IPO were not disclosed.

The largest petrochemical holdings in Russia - SIBUR and TAIF - in April announced plans to combine their assets. Within the framework of the merger, a company will be created on the basis of SIBUR Holding, in which the current shareholders of TAIF PSC will receive a 15% stake in exchange for the transfer of a controlling stake in a group consisting of petrochemical and energy enterprises. The remaining stake in TAIF can be subsequently purchased by the merged company.

It was also noted that the combined company of SIBUR and TAIF will include the parent company of the Tatarstan group, its two chemical plants and an energy company. On the part of TAIF, the following companies will join the merged company: TGK-16 JSC, Kazanorgsintez PJSC, Nizhnekamskneftekhim PJSC and TAIF JSC. The oil complex of TAIF-NK PSC is not included in the deal with SIBUR.

SIBUR is the largest vertically integrated gas processing and petrochemical company in Russia, uniting a number of production sites in various regions of the Russian Federation. The company sells products to consumers in the fuel and energy complex, automotive, construction, consumer goods, chemical and other industries in more than 80 countries around the world.

PSC "TAIF" was established in 1995, is the parent company of the group of the same name, which includes enterprises structured in four business areas: oil and gas processing, chemistry and petrochemistry (energy); investment and financial services; building; telecommunications and complex services, including trade. TAIF Group of Companies is a large Russian holding that controls 96% of the chemical, petrochemical and oil and gas processing industries in Tatarstan. The most important of its areas is the Chemistry, Petrochemistry and Oil and Gas Processing Division, which includes the leading Russian polymer producers Nizhnekamskneftekhim and Kazanorgsintez.

Huntsman appoints Phil Lister as CFO as of 1 July

Huntsman appoints Phil Lister as CFO as of 1 July

MOSCOW (MRC) -- Huntsman has appointed Phil Lister as executive vice president and Chief Financial Officer (CFO), effective 1 July, as per the company's press release.

He will replace longtime company veteran Sean Douglas, who resigned to accept a full-time calling to The Church of Jesus Christ of Latter-day Saints.

Lister began his career at Imperial Chemical, which Huntsman acquired in 1999. In his most recent role at Huntsman, Lister managed the company’s acquisition and dispositions. The company said that the transactions he oversaw have led to the execution of Huntsman key strategic initiatives.

These transactions, valued at more than USD3.5 billion, have resulted in a significant transformation of the company's portfolio.

"As the head of M&A, Phil has been instrumental in executing the company's portfolio management strategy. He has completed seven transactions in the past three years, that have allowed us to focus further downstream and on our specialty businesses, reduce our debt, strengthen our balance sheet, and improve our trading multiple,” said CEO Peter Huntsman.

As MRC reported before, in early April, 2021, Huntsman Corporation announced that Sean Douglas, 56, had notified the company he intends to resign as Executive Vice President and CFO. The effective date of Mr. Douglas' resignation will be July 1, 2021.

We remind that in late December, 2020, SK Capital Partners completed the acquisition of a 39.75% stake, roughly 42.4 million shares, in titanium dioxide maker Venator from Huntsman for roughly USD100 million. The deal includes a 30-month option for the purchase of Huntsman’s remaining approximate 9.5 million shares by SK at US2.15/share. Huntsman spun off Venator in a 2017 initial public offering.

Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2019 revenues of approximately USD7 billion. The company's chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. The company operates more than 70 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 9,000 associates within our four distinct business divisions.

Grand Resource cuts capacity utilisation at two PP units in China on the electricity supply issue

Grand Resource cuts capacity utilisation at two PP units in China on the electricity supply issue

MOSCOW (MRC) -- Dongguan Grand Resource Science and Technology Co Ltd (JuZhengYuan) has cut operating rates at its two polypropylene (PP) units in Guangzhou due to the worsening electricity supply shortage in this region, according to CommoPlast with reference to market sources.

Thus, two PP lines with a combined capacity of 600,000 mt/year (300,000 mt/year each) have been running at 70% capacity since 2 June, 2021. And they will remain underutilised until further notice.

In the meantime, the upstream propane dehydrogenation (PDH) unit is not affected by the issue and would maintain a full operating rate, from which sources said that the company might be selling the excess propylene until the downstream PP production return to normal.

As MRC wrote before, Dongguan Grand Resource Science and Technology restarted its No.2 PP plant on January 16, 2020, following a turnaround. The plant was shut for maintenance on January 6, 2019.

According to MRC's ScanPlast report, PP shipments to the Russian market totalled 410,890 tonnes in January-March 2021, up by 56% year on year. Supply of homopolymer PP and PP block copolymers increased.

Dongguan Grand Resource Science and Technology Co Ltd is owned by Juzhengyuan Energy (Shenzhen, Guangdong, China). On 26 October 2019, Dongguan Grand Resource’s (Dongguan, Guangdong, China) integrated complex for polypropylene production in Dongguan officially started up.

COVID-19 - News digest as of 04.06.2021

1. Indonesia biodiesel consumption down 8.2% in Jan-Apr 2021

MOSCOW (MRC) -- Indonesia's consumption of biodiesel fell by 8.2% year on year in the first four months of 2021, data from the country's producers' association showed, as transportation demand remained muted due to the coronavirus pandemic, reported Reuters. Domestic consumption of biodiesel was 2.669 million kilolitres in the January to April period, down from 2.907 million kilolitres last year, according to the Indonesian biodiesel producers' association (Aprobi). "Transportation movement has still not recovered to 2019 levels," Paulus Tjakrawan, vice chairman of Aprobi told Reuters.