BASF to build neopentyl glycol plant at Zhanjiang Verbund site in China

BASF to build neopentyl glycol plant at Zhanjiang Verbund site in China

MOSCOW (MRC) -- BASF will invest in a new world-scale Neopentyl Glycol (NPG) plant with an annual production capacity of 80,000 metric tons at its new Zhanjiang Verbund site, China, said the company.

With the new NPG plant expected to come on stream in Q4 2025, BASF’s global NPG capacity will be boosted from 255,000 metric tons to 335,000 metric tons annually, strengthening its position as one of the world’s leading NPG manufacturers. Currently, BASF has NPG production facilities in Ludwigshafen, Germany; Freeport, Texas, United States; as well as Nanjing and Jilin, China.

Vasilios Galanos, Senior Vice President, Intermediates Asia Pacific, BASF, said, “Investing in an NPG plant at the Zhanjiang Verbund site will enable us to support the growing demand from customers in Asia, particularly in the field of powder coatings in China. Leveraging the synergies arising from our unique Verbund model and top-notch technologies, we are confident that our investment in the NPG plant will enhance our competitive edge mainly in China, the world’s largest chemical market.”

“We are responding to the growing demand of Chinese customers for environmentally friendly powder coatings. We will step up the construction of the new NPG plant to support the growth of our business partners, while expanding our footprint and sustaining our position as a leading supplier in this vast market,” added Anup Pandey, Director, Business Management, Acids & Polyalcohols, BASF Intermediates Asia Pacific.

Boasting high chemical and thermal stability, NPG is an intermediate mainly used in the production of powder coating resins, which are particularly successful in the construction industry and for coating of household appliances. Due to their low volatile organic compounds (VOC), powder coatings enable their users to comply with VOC emission standards by reducing the release of VOCs by up to 50% compared to liquid coatings. Other applications for NPG include the manufacture of lubricants, plasticizers and pharmaceuticals. For example, it is used as a building block in the synthesis of hormones, cardiovascular drugs and painkillers.

BASF and Hannong Chemicals are planning to establish a production joint venture “BASF Hannong Chemicals Solutions Ltd.” BASF will hold 51% and Hannong Chemicals 49% shareholding, in the proposed joint venture. The joint venture will combine BASF’s strong technology and product innovation capabilities with Hannong’s highly efficient production capabilities to supply best-in-class non-ionic surfactant products to BASF and Hannong Chemicals, each with their own sales and distribution network, enabling the two companies to cater for increasing market demand.
mrchub.com

Cepsa signs green hydrogen shipping deal with Rotterdam port

Cepsa signs green hydrogen shipping deal with Rotterdam port

MOSCOW (MRC) -- Spanish oil and gas group Cepsa has signed a deal with the Dutch port of Rotterdam to ship green hydrogen from southern Spain to northern Europe, the oil company and the port said.

“Cepsa and the Port of Rotterdam are to work together to establish the first green hydrogen corridor between southern and northern Europe, ensuring a green hydrogen supply chain between two of Europe’s main ports, Rotterdam and Algeciras,” Cepsa said in the press release.

The hydrogen will be produced at Cepsa’s San Roque Energy Park near the Bay of Algeciras, and will be exported through hydrogen carriers such as ammonia or methanol to the Port of Rotterdam.

The trade lane is expected to be operational by 2027. Comparatively, first supply corridors from the European Hydrogen Backbone, a plan developed by gas transmission operators for the transport of hydrogen pipe, are due to be completed by 2030.

We remind, Cepsa, a leading international company committed to sustainable mobility and energy, and Ohmium International, a company specialized in the design, manufacture, and deployment of PEM electrolyzers, have announced an agreement to develop highly efficient green hydrogen projects in the Iberian Peninsula.

Cepsa is a Spanish petrochemical company. Full name Compania Espanola de Petroleos S.A. The company is headquartered in Madrid. Refining is one of the main activities of CEPSA. The production of asphalt and other road surfaces is another of the company's core activities; nine CEPSA factories are engaged in the production of these products.

mrchub.com

Sherwin-Williams to acquire Italian wood coatings company Industria Chimica Adriatica S.p.A.

Sherwin-Williams to acquire Italian wood coatings company Industria Chimica Adriatica S.p.A.

MOSCOW (MRC) -- The Sherwin-Williams Company announced an agreement to acquire Industria Chimica Adriatica S.p.A. (ICA), an Italian designer, manufacturer and distributor of industrial wood coatings used for kitchen cabinets, furniture and decor, building products, flooring and other specialty applications, said the company.

The acquired business has annual sales of more than €150 million, with sales and operations globally, including production facilities in Italy and Poland, and ICA's interest in the India-based joint venture, ICA Pidilite. ICA has approximately 600 employees and will become part of the Sherwin-Williams Performance Coatings Group operating segment. The transaction is expected to close by the end of 2022.

"This wonderful company brings us innovative waterborne and solvent liquid coatings technology, including an award-winning range of ultra-matt protective coatings and a growing portfolio of BIO water-based coatings products, which are made with recycled raw materials," said Sherwin-Williams Chairman and Chief Executive Officer, John G. Morikis.

"In addition to this strong technical expertise, ICA has excellent relationships with multi-national and local customers, multiple product specification and approval positions, strategically located manufacturing and distribution, and an outstanding commercial team focused on delivering innovative and value-added solutions. The combination of our businesses provides numerous opportunities to accelerate profitable growth in the region and beyond. The outstanding leadership and talented employees of ICA have built an admirable track record of success over the last 50 years, and we look forward to welcoming them to the Sherwin-Williams family upon the close of the transaction."

As per MRC, Sherwin-Williams Company (SHW) lowered its net sales guidance for the third quarter of 2021, while keeping its full-year net sales and net income per share view unchanged. The company lowered its third-quarter consolidated net sales guidance to be up or down by a low-single digit percentage over third-quarter 2020 from its prior view of up mid-to-high single digit percentage. The full-year 2021 consolidated net sales guidance remains unchanged at up a high-single to low-double digit percentage over 2020 levels.
mrchub.com

LanzaTech and Brookfield form strategic partnership

LanzaTech and Brookfield form strategic partnership

MOSOCW (MRC) -- LanzaTech NZ, Inc. announced a funding partnership with Brookfield Renewable, and its institutional partners, to co-develop and build new commercial-scale production plants that will employ LanzaTech’s CCT technology, which transforms captured carbon into valuable raw material commodities, said Hydrocarbonprocessing.

The funding partnership commits an initial $500 MM to be invested by Brookfield Renewable in constructing and operating new CCT projects that have achieved certain pre-agreed milestones. The funding will be provided through the Brookfield Global Transition Fund (“BGTF”), which is the largest fund in the world focused on the energy transition. Brookfield will be LanzaTech’s preferred capital partner for LanzaTech CCT opportunities in Europe and North America and following initial investments totaling $500 MM, Brookfield could commit to making an additional $500 MM available for investments in the strategic partnership if sufficient projects are available at the agreed milestones. Brookfield will also invest USD50 MM in LanzaTech to support further corporate development.

“LanzaTech’s technology provides a new way to decarbonize hard-to-abate sectors across the economy,” said Natalie Adomait, Managing Partner and Chief Investment Officer of BGTF. “We view this as an attractive opportunity to accelerate deployment of this technology at scale and be a partner to grow in an emerging area of infrastructure in a decarbonized economy."

“Creating a new carbon economy will require new ways of financing technology scale up and deployment,” said Jennifer Holmgren, CEO of LanzaTech. “We are excited to partner with Brookfield to accelerate deployment and achieve exponential growth. Together, we have the potential to target significant commodity markets and keep fossil resources in the ground. Each additional plant deployed has the potential to keep the equivalent of around 100,000 tons of carbon from the atmosphere each year. This is the new carbon economy in action!"

LanzaTech converts carbon through the power of biology, using a biocatalyst to transform emissions into fuels and chemicals. Through application of their technology, steel mill emissions have been converted into sustainable aviation fuel, clothing ranges, laundry detergent, household cleaner and fine fragrances. LanzaTech creates industrial symbioses where the emissions from heavy industry can be used by consumer goods companies to make products that would otherwise come from fossil inputs. LanzaTech aims to contribute to a world where your plane is powered by recycled GHG emissions, and your shampoo bottle started life as emissions from a steel mill.

We remind, LanzaTech NZ Inc has struck a deal with Brookfield Renewable Corp for a USD500 MM commitment by the investment firm to finance upcoming projects using LanzaTech's technology.
mrchub.com

Esso trying to resume refinery operations as soon as possible

Esso trying to resume refinery operations as soon as possible

MOSCOW (MRC) -- ExxonMobil's French business Esso is trying to resume operations as soon as possible now that an agreement has been accepted by two trade unions, but the restart will depend on the decision made by the next shift of workers, said Reuters.

ExxonMobil asked the U.S. National Labor Relations Board (NLRB) to move back by a month a hearing on a complaint the company unlawfully locked out more than 600 workers from its Beaumont, Texas, refinery.

We remind, ExxonMobil is gradually shutting down its 235,000 barrel per day (bpd) Fos-Sur-Mer refinery in France as a result of ongoing strike action. Walkouts caused the gradual shut down of Exxon's 240,000 bpd Port Jerome-Gravenchon oil refinery and Notre Dame de Gravenchon (NDG) petrochemical site in France on Sept. 20 before spreading to Fos-Sur-Mer 24 hours later.
mrchub.com