MOSCOW (MRC) -- Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced that its licensed TC2C crude-to-chemicals technology will move forward in its first commercial deployment through S-Oil's Shaheen Project in South Korea, said the company.
S-Oil recently confirmed its final investment decision on the Shaheen Project. Once complete, Shaheen will be one of the world's largest ethylene plants and the first commercial deployment of TC2C, a breakthrough technology that transforms whole crude into value-added chemicals.
"TC2C increases chemical yield more than any other crude-to-chemicals technology currently under development, while also enhancing energy efficiency, reducing carbon intensity and lowering operating costs," said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology. "As we reach milestones such as S-Oil's final investment decision, we are grateful for our partnership with Saudi Aramco Technologies Company and Chevron Lummus Global. These milestones put us closer to revolutionizing petrochemical production and transitioning to more sustainable processes."
S-Oil's new plant will deploy several Lummus and Chevron Lummus Global (CLG) technologies to process crude to produce ethylene, propylene, butadiene and other basic chemicals. Upon completion, the plant will have an annual production capacity of up to 3.2 MMt of petrochemicals.
TC2C converts crude into value-added chemicals in a uniquely integrated process combining Lummus' ethylene technology with Saudi Aramco's separation and catalyst technologies and CLG's hydroprocessing catalysts and reactor technologies. TC2C maximizes conversion of crude at lower carbon intensity, higher energy efficiency and lower capital than conventional refinery/petrochemical complexes. Unlike any other crude-to-chemicals technology, TC2C processes low-value refinery streams such as slurry oil and pyrolysis oil, and it can be tailored to maximize olefins, aromatics or any combination.
Saudi Aramco is the majority shareholder of S-Oil. In 2018, Saudi Aramco Technologies Company, Lummus and CLG entered into the joint development agreement for the development, commercialization and marketing of TC2C.
We remind, Saudi Aramco has signed 59 corporate procurement agreements (CPAs) worth a potential total of USD11 billion with up to 51 domestic and international manufacturers, as a part of its coveted in-kingdom total value add (IKTVA) localisation programme. IKTVA is at the heart of Aramco’s long-term local content strategy and plays a crucial role for domestic contractors while also awarding large-scale deals to its pool of long-term agreement (LTA) contractors.