MOL and QatarEnergy Sign Long-term Charter Deal for Three Newbuilding LNG Carriers

MOL announced that, through a subsidiary, it signed a long-term charter contract for three newbuilding liquefied natural gas (LNG) carriers with QatarEnergy, said the company.

The vessels will be built at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. in China, and are scheduled for delivery in 2027.

MOL signed a long-term charter contract with QatarEnergy in April 2022 for four newbuilding LNG carriers, and the relationship between QatarEnergy and MOL will be further expanded by three LNG carriers through the latest contract.

QatarEnergy is undertaking the North Field Expansion Project to increase its LNG production capacity to 126 million tons per annum by 2027. MOL, through its further participation in LNG projects in Qatar, will contribute to stable global LNG supply and enhance the maritime transport of the next-generation, environment-friendly energy resources.

We remind, MOL’s third-quarter clean current cost of supplies (CCS) earnings before interest, tax, depreciation and amortisation (EBITDA) for its petrochemical division fell by 90%, year on year. The company said its margins for petrochemicals had slumped by 34% during the quarter, year on year. Despite this, earnings before interest and tax (EBIT, or operating profit) more than doubled.

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Arkema achieved a very solid financial performance in the third quarter, marked by a slight increase in EBITDA and strong cash flow generation in a more challenging economic environment, said the company.

Arkema's net income fell by 8.9% year on year in the third quarter amid lower sales volumes. Arkema aims to achieve EBITDA of €2.1bn in 2022, representing annual EBITDA growth at constant scope of around 20% compared with 2021.

"Fourth-quarter EBITDA, which includes the destocking expected at year-end, should be comparable to the pre-Covid level of 2019, but below Q4’21 which benefited from significant restocking," the company said.

We remind, Arkema’s Virtucycle® program places the advanced materials designer at the center of a virtuous cycle to source, recycle, and recertify advanced polymers. In addition to being the specialty recycler, Arkema plays the role of matchmaker among its customers while playing an optional key role in eco-designing the finished product produced from the recycled material.

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Chevron Corporation and Japan's Mitsui O.S.K. Lines (MOL), Ltd. (MOL) have signed an agreement to study the feasibility of transporting liquefied carbon dioxide from Singapore to permanent storage locations offshore Australia, said the company.

Under the JSA, Chevron and MOL will explore the technical and commercial feasibility of initially transporting up to 2.5 million tonnes per annum (Mtpa) of liquified CO2 by 2030.

The JSA will complement work to be advanced by a recently announced consortium to explore solutions for large-scale carbon capture, transport and permanent storage of CO2 from Singapore. Through its part in three joint ventures, Chevron was also recently granted an interest in three greenhouse gas assessment permits offshore Australia.

“Developing safe and reliable CO2 transportation services is a crucial step in developing large scale Carbon Capture, Utilization, and Storage (CCUS) solutions. We are pleased to partner with MOL to explore commercially-ready solutions to focus on realizing this goal,” said Mark Ross, president of Chevron Shipping Company.

“We expect this agreement with MOL to advance the technical and commercial foundations for a regional approach to CCUS, which could provide progress toward the region’s net-zero ambitions. No single entity has all the solutions, but genuine collaboration can help us unlock opportunities as we advance our shared goal of a lower carbon future,” said Chris Powers, vice president, CCUS, Chevron New Energies.

“As a developer and a provider of social infrastructure service in addition to traditional shipping, MOL is honored and excited to have an opportunity to collaborate with Chevron for opening up CCUS solutions in the Asia Pacific region. We hope to expand our collaboration to wider areas of solutions for decarbonization including CCUS and renewable energies globally,” said Yasuchika Noma, Executive Officer of MOL.

We remind, Chevron reported its second-highest ever quarterly profit, blasting past analysts' estimates, driven by soaring global demand for its oil and gas and rising production from its U.S. oilfields. The surge comes as oil companies book mounting profits with prices near record levels and supplies tight on output cuts during the COVID-19 pandemic, as well as market disruption from the war in Ukraine. Chevron posted a third-quarter net profit of USD11.2 B, or USD5.78 per share - almost double the $6.1 B from the same period last year, and well ahead of Wall Street's USD4.86 estimate.

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Chlorum Solutions LLC (Sao Paulo, Brazil) will use thyssenkrupp nucera AG & Co. KG (Dortmund, Germany) technology for its next two chlor-alkali plants in Brazil, said Chemengonline.

The company has ordered two skid mounted plants with BM2.7 electrolysis technology from the supplier of world-leading technologies for high-efficiency electrolysis plants. The two chlor-alkali electrolysis plants will each provide the company with a production capacity of 45 ton/d of chlorine. They will produce sodium hypochlorite, hydrochloric acid and caustic soda.

The first chlor-alkali plant will be installed in the Brazilian state of Santa Catarina and the second one in the state of Minas Gerais. thyssenkrupp nucera will provide engineering, equipment (mostly pre-assembled and tested on skid) and consulting services during the installation and commissioning of the plant.

“Our solutions are tailor-made to the specific needs of our customers. That is why we only work with partners who meet our high standards of efficiency and quality, but also safety and environmental compatibility. The electrolyzers from thyssenkrupp nucera are therefore our choice,” says Alfredo Kerzner, CEO of Chlorum Solutions.

The modular concept of thyssenkrupp nucera’s chlor-alkali plant for smaller capacities offers significant savings in construction costs and enables fast, simple and cost-effective assembly. The complete plant is prefabricated in modules that only need to be erected and connected together on site. This approach significantly reduces project risks and duration. Both plants are planned to go into operation in the second quarter of 2024.

“Chlorum Solutions is a pioneer in providing an environmentally friendly, innovative and safe solution for the supply of chlorine and its derivatives. We are pleased that the company has chosen our technology. This is a further demonstration of the value proposition that our plants and our technology services can provide to the customers with our energy efficient products,” says Gerhard Hen?en, managing director of thyssenkrupp nucera Italy.

Chlorum Solutions specializes in the construction and operation of small scale chlorine plants for the production of hydrochloric acid and hypochlorite, and aims to build several new plants in the coming years.

Thyssenkrupp nucera offers world-leading technologies for high-efficiency electrolysis plants. The company has extensive in-depth knowledge in the engineering, procurement, and construction of electrochemical plants and a strong track record of more than 600 projects with a total rating of over 10 GW already successfully installed. The modular designed thyssenkrupp nucera’s chlor-alkali electrolysis plant for smaller capacities offers significant savings in construction costs and enables fast, simple and cost-effective installation. In addition, the latest BM2.7 single-element generation enables major energy savings by using continuously optimized design and the latest, energy-saving components.

As per MRC, Thyssenkrupp Uhde has won an order from Nippon Coke & Engineering Co., Ltd. (NCE) to build and supply a new low-emission, top-charge coke oven battery in Japan. The new battery will be installed at the Kitakyushu works as a replacement for the existing battery 2A. The design will include thyssenkrupp Uhde’s proprietary EnviBAT system to reduce emissions during the coking process.
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Henkel announced that Jan-Dirk Auris, the Board member responsible for the Adhesive Technologies business unit, will conclude his longstanding and successful service to the company at the end of January 2023, following the joint decision to forego a prolongation of his existing contract, which is scheduled to expire at the end of 2023. He will support the handover of responsibility to his successor, said the company.

"In more than three decades at Henkel, Jan-Dirk Auris has always put himself at the service of our company and recorded many achievements. Under his leadership, the Adhesive Technologies business unit has developed very successfully over the past decade. Today the business is the undisputed global leader in its industry. For us, this is the right time to address the succession at the helm of this business unit. We are very grateful to Jan-Dirk Auris for his great commitment and highly successful work for our company and wish him all the best for his future," said Dr. Simone Bagel-Trah, Chairwoman of the Supervisory Board and Shareholders' Committee of Henkel.

"Jan-Dirk Auris has made an exceptional and very successful career at Henkel. Around 35 years with the company, 12 of which as a member of the Management Board – that is a truly impressive achievement. His passion for the business, combined with a deep knowledge of markets and customers, as well as his ability to develop successful teams and leaders, have always been of great value to Henkel," added Carsten Knobel, CEO of Henkel.

Jan-Dirk Auris (54) has been with Henkel for around 35 years and since 2011 has been a member of the Management Board with responsibility for the Adhesive Technologies business unit, which with sales of more than 10 billion euros is the global leader in adhesives, sealants, and coatings. He began his career at Henkel in 1987 with an apprenticeship in industrial management. Following roles as key account manager and sales manager in Germany, he took on positions with increasing international responsibility in North America and Asia before he became a member of the Management Board at the beginning of 2011.

We remind, Henkel Korea has completed work on its Songdo Plant, a production facility for electronics solutions in Korea. The project is expected to become the firm’s production hub in the Asia-Pacific region for high-impact electronics solutions.
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