Idemitsu and JERA agree to jointly consider establishing a hydrogen supply chain based in Japan

Idemitsu Kosan Co., Ltd. and JERA Co., Inc. have today concluded a memorandum of understanding (MoU) stipulating that they will jointly consider establishing a hydrogen supply chain based in the Ise Bay area, said Globalhydrogenreview.

On the back of demand for decarbonisation, hydrogen—which emits no CO2when burned—is expected to be used in large quantities at power plants and in industrial areas as a next-generation replacement for fossil fuels. It is essential, therefore, to develop large-scale receiving and supply bases near areas where hydrogen will be in demand.

The Ise Bay area, where many industries are concentrated, has the future potential to become a large-scale receiving and supply base. Idemitsu is engaged in the business of receiving and refining crude oil and supplying petroleum products in the area. JERA, meanwhile, owns thermal power plants and LNG receiving terminals in the area and strives to ensure a stable supply of electricity in the Chubu region.

Idemitsu and JERA will utilise their accumulated technology, knowledge, and assets to contribute to the establishment of a stable, economical supply chain for hydrogen as part of their efforts to achieve carbon neutrality. The two companies will also cooperate with “Hydrogen Utilisation Study Group in Chubu”, which is working to establish cross-industrial hydrogen supply chain throughout the Chubu region.

Idemitsu has adopted the ‘CNX Center’ concept of transforming existing manufacturing bases such as refineries and complexes into new low carbon and resource-recycling energy hubs. Idemitsu aims to establish a supply chain that supplies CO2-free energy by taking advantage of the unique characteristics of each of the group's sites while fulfilling responsibility for the stable supply of energy.

As per MRC, Idemitsu Kosan plans to cut its capacity by 13% in less than two years as the ageing and shrinking population in Japan and the global shift to greener energy eats into household demand for petroleum.
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Olin Corporation announced that half of its Plaquemine, Louisiana chlor alkali facility has returned to operation, which has been down since April 2022, with the remainder expected to return to operations in early August 2022, said the company.

Olin's Freeport, Texas facility continues to operate at a reduced level of power generation with the expectation that a portion of the power generation will be restored in fourth quarter 2022. In May, Olin resumed integrated epoxy resin production at its Stade, Germany facility, which had been temporarily idled in March 2022.

During second quarter 2022, Olin has experienced weaker than anticipated epoxy resin demand in North America and South America. Olin is unwilling to sell incremental volume into a poor-quality market and operating the epoxy resin facilities at less than 50% operating rates is impractical. As a result of these factors, Olin Corporation announced that it is temporarily curtailing epoxy and related upstream inputs production at its Freeport, Texas and Guaruja, Brazil facilities.

Olin Corporation also announced that it is temporarily curtailing a significant portion of its ethylene dichloride and related chlor alkali production at its Freeport, Texas facility. As Olin's unique model adapts in real-time to globally prioritize system value; with the resumption of its Plaquemine, Louisiana operations; with high electrical power costs in Texas; and considering the poor-quality ethylene dichloride market conditions, Olin has decided to suspend this production.

As per MRC, Olin Corporation, a leading vertically integrated chlor alkali producer and marketer, and Plug Power Inc., a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, have announced the signing of a memorandum of understanding (MOU) with the intention to create a joint venture (JV) to produce and market green hydrogen to support growing fuel cell demand in the global hydrogen economy.

We remind that a fire and chlorine spill at Olin Corp’s plant in Plaquemine, a tenant at the Dow Chemical facility, was reported to Iberville Sheriff’s office around 8:40 p.m., on 18 April, 2022. Louisiana authorities lifted a shelter-in-place order within five hours of issuing it after a chlorine leak on Monday.

Olin Corporation was founded in 1892 and is currently based in Clayton, Missouri, USA. The company's activities are concentrated in three segments: the production of military ammunition and chlor-alkali products, and their distribution. It is one of the main producers of polyvinyl chloride in the USA along with Shintech, Formosa Plastics, Westlake Chemical and Axiall.
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Braskem S.A. informs its shareholders and the market that its indirect subsidiary Braskem Idesa has entered into agreements with Advario B.V for the sale of a 50% stake in Terminal Quimica Puerto Mexico, a subsidiary of BI responsible for the development and operation of the ethane import terminal Project in Mexico, said the company.

The transaction is subject to applicable approvals and, once approved, BI and Advario will have each one a 50% stake in TQPM's capital.

Advario, a leading global storage company based in the Netherlands, specializes in designing, building and operating storage and logistics infrastructure for liquid bulk products, including petrochemicals and cryogenic gases, currently operating worldwide.

TQPM's ethane import terminal will have a capacity of 80,000 barrels per day of ethane, providing conditions for BI to import all its feedstock needs. The Company, through BI, reinforces its commitment to Mexico and the petrochemical industry.

As per MRC, Braskem (Sao Paulo, Brazil) said it is supporting the efforts by Danish company Plastix (Lemvig) to market recycled plastics fibre waste of old fishing nets and other marine debris collected at various ports.

As per MRC, Braskem has agreed with Dutch recycler Terra Circular to enter a joint venture for mechanical recycling.
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South Korea's unionised truckers headed back on the roads on Wednesday after the union and the transport ministry reached a tentative late-night agreement, ending a nationwide strike that crippled ports and industrial hubs, said Reuters.

Shares in some affected industries rose in early trade, after the eight-day strike had delayed cargo shipments from autos to cement and alcohol, costing South Korea more than USD1.2 billion (SD1.7 billion) in lost output and unfilled deliveries.

"So the strike has been called off until our demands are passed in parliament,” said Mr Park Jung-hoon, an official at the union’s Busan chapter, referring to the process the transport ministry must undertake to implement the agreement.

The union was demanding the extension of the freight rate system to help drivers cope with rising fuel prices. The system was introduced in 2020 for a three-year run, aimed at preventing dangerous-driving practices, such as cargo overload, and guaranteeing minimum rates for truckers. It was due to expire this year.

The strike, which started on June 7, had roiled industries amid fears of higher costs and wider upheaval to global supply chains after Covid-19 lockdowns in China and Russia’s invasion of Ukraine.

As per MRC, thousands of South Korean truckers were on strike for the seventh day on Monday, protesting over pay as fuel costs surge, disrupting production, slowing port operations and posing new risks to a strained global supply chain. South Korean industries, including auto, steel, petrochemical and cement, faced accumulated losses worth about 1.6 T won (USD1.2 B) as of Sunday due to the ongoing trucker strike, the industry ministry said. Following are details of the disruption, lost production and reactions from union officials and businesses.
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TotalEnergies has entered into an agreement with Adani Enterprises Limited (AEL) to acquire a 25% interest in Adani New Industries Ltd. (ANIL), said Globalhydrogenreview.

ANIL will be the exclusive platform of AEL and TotalEnergies for the production and commercialisation of green hydrogen in India. ANIL will target a production of 1 million t of green hydrogen per year (Mtpa) by 2030, underpinned by around 30 GW of new renewable power generation capacity, as its first milestone.

In order to control green hydrogen production costs, ANIL will be integrated along the value chain, from the manufacturing of equipment needed to generate renewable power and produce green hydrogen, to the production of green hydrogen itself and its transformation into derivatives, including nitrogenous fertilizers and methanol, both for the domestic market and export. To start with, ANIL intends to develop a project to produce 1.3 Mtpa of urea derived from green hydrogen for the Indian domestic market, as a substitution to current urea imports, and will invest around USD5 billion in a 2 GW electrolyser fed by renewable power from a 4 GW solar and wind farm.

This partnership is based on the remarkable complementarity of the two companies. Adani's portfolio will contribute its deep knowledge of the Indian market, execution capabilities, and operations and capital management excellence. TotalEnergies will offer its thorough understanding of the global markets, expertise in renewable technologies and large-scale industrial projects, and financial strength, enabling ANIL to lower its financing cost. The partners' complementary strengths will help ANIL deliver the largest green hydrogen ecosystem in the world, which will enable the lowest green hydrogen cost to the consumer.

The investment in ANIL marks another major step in the strategic alliance between TotalEnergies and Adani Group – India’s leading energy and infrastructure platform – whose operations across India include LNG terminals, gas utility business, renewable power generation, and now green hydrogen production. It will amplify the key role that TotalEnergies and Adani intend to play in the energy transition, and in helping India decarbonise its mobility, industry, and agriculture, while also contributing to the country’s energy independence.

As per MRC, TotalEnergies' Leuna refinery in eastern Germany is reducing its intake of Russian crude oil via the Druzhba pipeline as it has started working on a supply solution via the Polish port of Gdansk. Druzhba feeds not just Leuna but also the PCK Schwedt refinery, majority-owned by Russia's Rosneft. Poyanne said Russian oil use in May had fallen to filling 555,000 tons of refinery capacity at the plant, down from 900,000 tons last October, and 800,000 tons in February.
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