bp and Linde to develop large-scale CCS

bp and Linde to develop large-scale CCS
MOSCOW (MRC) -- bp and Linde announced plans to advance a major carbon capture and storage (CCS) project in Texas that will enable low carbon hydrogen production at Linde’s existing facilities, said the company.

The development will also support the storage of carbon dioxide (CO2) captured from other industrial facilities – paving the way for large-scale decarbonization of the Texas Gulf Coast industrial corridor.

Upon completion, the project will capture and store CO2 from Linde’s hydrogen production facilities in the greater Houston area – and potentially from its other Texas facilities – to produce low carbon hydrogen for the region. The low carbon hydrogen will be sold to customers along Linde’s hydrogen pipeline network under long-term contracts to enable production of low carbon chemicals and fuels.

As part of the project, bp will appraise, develop and permit the geological storage sites for permanent sequestration of the CO2. bp’s trading & shipping business aims to bring custom low carbon solutions to the project, including renewable power and certified natural gas, along with commodity trading and price risk management expertise.

Linde will use its proprietary technology and operational expertise to capture and compress the CO2 from its hydrogen production facilities for the project. Together with its extensive infrastructure of hydrogen production facilities and its storage cavern connected through its pipeline network across the Texas Gulf Coast, this project will enable Linde to supply cost-effective, reliable low carbon hydrogen and, together with bp, provide carbon capture and storage solutions.

The overall development, expected to be operational as early as 2026, will also enable capture and storage of CO2 from other large industrial facilities in the region and could ultimately store up to 15 million metric tons per year across multiple onshore geologic storage sites – the equivalent of taking approximately 3 million cars off the road each year.

As per MRC, bp has signed a ten-year offtake agreement with Clean Planet Energy, a UK-based company that is developing facilities to convert hard-to-recycle waste plastics into circular petrochemical feedstocks and also into ultra-low sulphur diesel (ULSD). Clean Planet Energy designs and builds facilities — which they refer to as ecoPlants — that are expected to process plastics typically rejected by traditional recycling centers and so would otherwise be sent to landfill or incineration.

As MRC informed earlier, bp is seeking to divest the near 20% stake in Russian state-oil company Rosneft it has held since 2013 in the starkest sign yet of the corporate backlash against Moscow’s invasion of Ukraine.

bp is one of the world's largest oil and gas companies, serving millions of customers every day in around 80 countries, and employing around 85,000 people. bp's business segments are Upstream (oil and gas exploration & production), and Downstream (refining & marketing). Through these activities, bp provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world"s hydrocarbon basins and strong market positions in key economies.

Petronas Chemicals to acquire Perstorp Group for EUR2,300 million

Petronas Chemicals to acquire Perstorp Group for EUR2,300 million
MOSCOW (MRC) -- Perstorp Group said that it is to be acquired by PETRONAS Chemicals Group Berhad (PCG). PCG announced that it has signed a Securities Purchase Agreement on 14 May 2022 to acquire the entire equity interest in Perstorp Holding AB, said the company.

The agreement was signed with Financiere Foret S.a.r.l, a company under PAI Partners, a European private equity firm.

Jan Secher, President and CEO of Perstorp said, “We are excited to become part of the PETRONAS family. I see a strong commonality in values and priorities for how to take our respective businesses forward, meeting the challenges and opportunities of the future. By tapping into PCG’s strength and market leading position in the Asia Pacific region, we are confident that Perstorp can continue to develop into its next phase of growth. Being part of PCG means Perstorp gets the scale to increase the pace of innovation and accelerate our sustainable transformation, which is at the forefront of the chemical industry. PCG’s and Perstorp’s businesses complement each other very well.”

Established more than 140 years ago, Perstorp is a leading niche specialty chemicals player that develops sustainable solutions with focus on the Resins & Coatings, Engineered Fluids and Animal Nutrition markets. The company has a global sales presence, seven state-of-the art manufacturing sites in Europe, US and China (the 8th plant will be ready in India in 2023) and three research and development (R&D) centres worldwide with approximately 1,500 employees serving more than 2,600 customers globally. Perstorp is highly regarded among its customers for its product quality and application expertise, supply reliability, customer centricity and Pro-Environment products and solutions.

PCG’s journey to achieve its vision of becoming the preferred chemical company providing innovative customer solutions is based on a clear strategy; to strengthen its basic petrochemicals portfolio, and to selectively diversify into derivatives, specialty chemicals and solutions. In the execution of this strategy, the acquisition of Perstorp group marks the creation of a significant specialty chemicals portfolio, while enhancing PCG’s overall earnings. This transaction follows the acquisition of BRB Group in 2019, a leading global independent producer and formulator of silicones, lube oil additives and chemicals, which launched PCG into new areas aligned with its long-term growth ambitions.

The acquisition values Perstorp Group at an enterprise value of EUR 2,300.0 million. The completion of the acquisition is subject to relevant regulatory and shareholders’ approvals.

As MRC reported previously, in December 2021, Perstorp, the world leader in the production of Trimethylolpropane (TMP), ramped up the capacity to meet growing demand from the European market. TMP is used to enhance the properties of numerous materials. Common applications include the use in saturated polyesters for coil coatings, polyurethanes for coatings and elastomers, acrylic acid esters for radiation curing, esters for synthetic lubricants, and for the surface treatment of pigments.

Perstorp Specialty Chemicals AB is a subsidiary of Perstorp Holding AB. The company was founded in 1881 and is based in Perstop, Sweden. Perstorp Specialty Chemicals AB manufactures chemical products. The company offers base and specialty polyols, formates, organic acids and formaldehyde products.

Vinnolit renamed Westlake Vinnolit

Vinnolit renamed Westlake Vinnolit
MOSCOW (MRC) -- PVC and caustic soda manufacturer Vinnolit, a Westlake company, will be renamed Westlake Vinnolit, said the company.

As part of its ongoing growth, the parent company Westlake is standardizing the brand identity of the entire Group.

With pro forma sales of USD14.5 billion in 2021, Westlake Corporation is a global, diversified industrial company that provides customers around the world with important and sustainable products that improve people’s lives every day. As part of its continued growth, the company restructured in early 2022 to unify the brand identity of the corporation and its subsidiaries. As part of the newly created “Performance & Essential Materials” business unit, Vinnolit GmbH & Co. KG will operate in the future as “Westlake Vinnolit GmbH & Co. KG”.

“We are part of a strong, international group that offers its customers a wide range of innovative and high-quality products,” says Westlake Vinnolit Managing Director Dr. Karl-Martin Schellerer. “The new name now makes this even more visible and tangible.” In the future, the new, uniform umbrella brand “Westlake” will be a name component of all business units and companies in the Westlake family.

The change of name of Vinnolit GmbH & Co. KG became effective on May 16, 2022 – with the change in the commercial register entry. The company’s European sales companies and representative offices will also be successively renamed Westlake Vinnolit. The very successful and well-known product brand Vinnolit will be maintained, as will GreenVin for the company’s particularly sustainable products.

As per MRC, Westlake Chemical Corporation, the world's petrochemical major, has officially changed its name to Westlake Corporation. Westlake is now organized under one unified brand name with two financial reporting segments: Housing & Infrastructure Products and Performance & Essential Materials.

According to MRC's ScanPlast report, Russia's estimated consumption of unmixed PVC was about 999,300 tonnes in 2021, up by 7% year on year. The emulsion and suspension PVC market showed stronger demand, despite over a twofold price increase. December estimated SPVC consumption was 81,200 tonnes (excluding deliveries to the Republic of Belarus and the Republic of Kazakhstan) versus 74,690 tonnes a month earlier.

Westlake Corporation is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, with operations in Asia, Europe, and North America, we provide the building blocks for vital solutions — from housing and construction, to packaging and healthcare, to automotive and consumer.


BASF Signs Renewable Energy Deal To Support Zhanjiang Verbund Site

BASF Signs Renewable Energy Deal To Support Zhanjiang Verbund Site

MOSCOW (MRC) -- BASF and Brookfield have finalized a term sheet for a 25-year renewable electricity supply agreement to purchase solar and wind power for the BASF Zhanjiang Verbund site in China, said Apic-Online.

Under the fixed-price agreement, Brookfield will develop and build dedicated solar and wind farms, as well as possible storage solutions to support the renewable energy demands of BASF site.

This agreement with Brookfield is another important step in securing renewable energy for BASF new Verbund site in Zhanjiang, said Haryono Lim, senior vice president, new Verbund site China and BASF, and general manager of BASF Integrated Site (Guangdong) Co. Ltd.

BASF is dedicated to building its Zhanjiang Verbund site into a new role model of sustainable production, and aims to already achieve 100% renewable electricity supply for its Zhanjiang Verbund site by 2025. This is part of BASF climate neutrality target, and will also contribute to China carbon reduction goal.

The site in Zhanjiang will produce thermoplastic polyu-rethanes and 60,000 t/y of engineering plastics to serve various growth industries in the South China market, and throughout Asia. The first plant from the initial phase will be operational by 2022. The whole site is planned to be completed by 2030.

As MRC informed before, BASF and Henkel jointly commit to replacing fossil carbon feedstock with renewable feedstock for most products in Henkel’s European Laundry & Home Care and Beauty Care businesses over the next four years following a successful pilot with Henkel’s cleaning and detergent brand Love Nature in 2021.

We remind that BASF is to increase its production capacity for plastic additives at its sites in Pontecchio Marconi, Italy and Lampertheim, Germany. BASF did not disclose, however, current or future capacities for its production of plastic additives hindered amine light stabilizers (HALS).

BASF is the leading chemical company. It produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries.

BASF plans to increase the global production capacity for its antioxidant Irganox 1010 by 40%

BASF plans to increase the global production capacity for its antioxidant Irganox 1010 by 40%

MOSCOW (MRC) -- BASF plans to increase the global production capacity for its antioxidant Irganox 1010 by 40% with production expansion projects at its sites in Jurong, Singapore, and Kaisten, Switzerland, said the company.

With production in Kaisten coming online in 2019 and in Singapore in early 2021, BASF aims to better serve the increasing demand from customers in Asia and Europe, Middle East and Africa from its regional supply points. In addition, BASF is investing in its McIntosh, Alabama facility in the US to improve asset reliability and further expand capacity to meet growing customer demand.

In Singapore, the company will double its capacity for Irganox 1010 by adding an additional production line that will be integrated into the existing production facilities. “At the same time, we will add 30% to our existing capacity for Irganox® 1010 at our Kaisten plant in Switzerland by debottlenecking operations. This significant and timely expansion, planned for 2019, reinforces our commitment to accelerating business growth in the region,” added Alberto Giovanzana, Vice President, Plastic Additives EMEA, BASF.

“Increasing our manufacturing capacity shows our commitment to plastic additives, which greatly benefits our global customer base,” said Deon Carter, Senior Vice President, BASF Performance Chemicals North America. “By investing in our McIntosh, Alabama site, we’ll further improve our supply reliability and expand our capacity of Irganox® 1010 and associated antioxidants to meet growing demand in the region."

Irganox 1010 is a sterically hindered phenolic primary antioxidant. It provides protection against thermo-oxidative degradation, mainly applied in polyolefins and also recommended for polyacetals, polyamides and polyurethanes, polyesters, PVC, ABS and elastomers such as butyl rubber and synthetic rubbers.

BASF is a leading supplier, manufacturer and innovation partner of plastic additives. Its comprehensive and innovative product portfolio includes stabilizers which provide ease in processing, heat and light resistance to a variety of polymers and applications including molded articles, films, fibers, sheets and extruded profiles.

As per MRC, as announced on March 3, 2022, BASF has not conducted new business in Russia and Belarus, in light of the war of aggression against Ukraine ordered by the Russian government. BASF strongly condemns the Russian attack on Ukraine and the violence against the civilian population. The Board of Executive Directors of BASF SE has now decided to also wind down the company’s remaining business activities in Russia and Belarus by the beginning of July 2022. Exempt from this decision is business to support food production, as the war risks triggering a global food crisis.

We remind that BASF is strengthening its global catalyst development and helping customers to bring new products faster to the market. As part of this strategy, BASF is building a new pilot plant center at its Ludwigshafen site. The new Catalyst Development and Solids Processing Center will serve as a global hub for pilot-scale production and process innovations of chemical catalyst.

BASF is the leading chemical company. It produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries.