Thyssenkrupp Uhde and IDIP sign MOU for green ammonia projects

Thyssenkrupp Uhde and IDIP sign MOU for green ammonia projects

MOSCOW (MRC) -- Thyssenkrupp Uhde and IDESA INDUSTRIAL PLANTS SLU (IDIP) have signed a memorandum of understanding (MOU) to cooperate on developing and fabricating modules for green ammonia projects, said the company.

The deal will focus on the development of a joint project within the sector for the design, procurement, fabrication and construction of modularised green ammonia plants.

Under the agreement, the companies will work together to further develop modularised green ammonia plants suitable for integration with green hydrogen production units. These modularised plants will drive forward green ammonia projects, which are vital for the success of the energy transition.

The cooperation between the two companies will combine IDIP’s extensive know-how in the fabrication of skids and modules with thyssenkrupp Uhde’s vast experience in the engineering and procurement of ammonia plants, leading to synergies, cost savings, improved fabrication efficiency, increased competitiveness and risk mitigation.

At the same time, it will unlock capacity constraints, improve supply chains and enable thyssenkrupp Uhde to prepare for the increased demand that is to come in the wake of the enormous future investments in green ammonia markets that are required to secure successful energy transition.

We remind, Unigel announced plans to build a green hydrogen plant in the northeastern state of Bahia, with an initial investment of USD120 million and the goal of making it one of the largest of its kind in the world. The plant will starts its production planned for late 2023. At this moment, Unigel's integrated green hydrogen and green ammonia plant is expected to be the largest in the world. In the first phase of the project, Unigel installs three 20 MW standard electrolyzers from thyssenkrupp nucera, adding up to a total capacity of 60 MW.

Borouge enters into agreement to expand footprint in East Africa

Borouge enters into agreement to expand footprint in East Africa

MOSCOW (MRC) -- Borouge Plc, a leading petrochemical company that provides innovative and differentiated polyolefin solutions, has entered into a Distribution Agreement with one of the biggest polyolefin distributors in East Africa, Somochem, said Hydrocarbonprocessing.

The agreement builds on a long-standing partnership between Borouge and Somochem and aims to increase Borouge’s footprint and presence in East Africa. The development comes on the back of Borouge’s significant growth in market share in the region.

Over the past five years, Borouge has grown its East African sales of infrastructure solutions and doubled its sales volume of advanced packaging solutions. The Company conducted targeted marketing and sales campaigns in the region, with a strong focus on Kenya, Tanzania, Ethiopia, Uganda and Rwanda – the fastest-growing countries in the region by Gross Domestic Product (GDP). According to the African Development Bank, economic growth in East Africa is projected to reach 5% in 2023 and 5.4% in 2024. Market demand has been driven by the rapid and substantial infrastructure investment, healthcare improvements, rising living standards and urbanization. More than 112 million people in the region do not have access to clean water according to UNICEF, demonstrating the pressing need for high quality infrastructure to support the development of the region.

The region has an estimated population of half a billion and is one of the fastest growing economies in the world, with many global consumer brands capitalizing on growth and partnering with Borouge to develop premium and recyclable products.

Borouge launched more than six new advanced packaging products which contributed to its organic sales growth. The new sustainable packaging solutions were designed with consumers and industrial premium applications in mind, and are engineered to be safe, lightweight, modern and environmentally friendly. The petrochemical company plans to launch new grades in 2023 to cater to the evolving demands of the market.

Borouge’s range of energy solutions ‘Bring Energy All Around’ and are used for insulation systems, jacketing for low, medium and high voltage energy transmission and distribution cables. Moreover, Borouge’s piping solutions are recognized with their improved processing properties, lower maintenance and installation costs, longer product lifetimes, increased safety and energy efficiency.

We remind, Borouge Plc, a leading petrochemical company that provides innovative and differentiated polyolefin solutions is supplying sustainable ‘Made in UAE’ polyethylene materials worth USD32 mln that are used in several development projects across the Middle East and Africa regions.

PKN Orlen ends final Russian oil contract without penalties

PKN Orlen ends final Russian oil contract without penalties

MOSCOW (MRC) -- PKN Orlen has terminated its contract with Russia's Tatneft without paying any penalties, the Polish company's chief executive said on Tuesday, after Moscow halted supplies of oil to Poland, said Reuters.

Supplies via the Druzhba pipeline were stopped in February, just a day after Poland delivered its first Leopard tanks to Ukraine. Poland had pledged to stop using Russian oil by the end of 2022, the same time as PKN's long-term contract with Rosneft expired. The agreement with Tatneft was due to end in 2024.

"These contracts no longer exist. The one with Rosneft expired in January, we did not renew it," Daniel Obajtek told private broadcaster Polsat News. "The second contract with Tatneft ... when the oil stopped flowing, we had an argument to terminate the contract. On this basis, we terminated this contract without penalties." Obajtek said the contract was terminated "a few days ago".

Following the invasion of Ukraine and before the European Union embargoed seaborne supplies from Russia, PKN stopped buying Russian oil and fuels transported by sea.

It said its supply portfolio now included oil from Western Africa, the Mediterranean, the Gulf and the Gulf of Mexico. It also has a supply contract with Saudi Aramco as of 2022.

We remind, PKN ORLEN, finalised a transaction to acquire a part of Poland’s largest plastics manufacturer, Basell Orlen Polyolefins, in which the ORLEN holds an equity interest. The acquisition was approved by the antitrust authorities in Poland and the Netherlands. The business segment, acquired by ORLEN, specialises in the production and sale of low-density polyethylene (LDPE) as well as customer service in the Polish market. It is a polymer commonly used to make consumer and industrial products, found in plastic films, bags, canisters, food packaging, as well as components of electronic devices, such as wires and cables.

Trinseo announces price increase for polystyrene and copolymers in Europe

Trinseo announces price increase for polystyrene and copolymers in Europe

MOSCOW (MRC) -- Trinseo, a specialty material solutions provider, and its affiliate companies in Europe announced today a price increase for all polystyrene (PS), ABS and SAN grades, said the company.

Effective April 1, 2023, or as existing contract terms allow, the contract and spot prices for the products listed below will increase as follows:

STYRON™ and STYRON™ X-TECH general purpose polystyrene grades (GPPS) by +50 Euro per metric ton
STYRON™ and STYRON™ A-TECH, STYRON™ C-TECH and STYRON™ X- TECH high impact polystyrene grades (HIPS) by +50 Euro per metric ton
MAGNUM™ ABS resins by +10 Euro per metric ton
TYRIL™ SAN resins by +10 Euro per metric ton

We remind, Trinseo reported a Q4 net loss of $365.3m largely because of a pre-tax, non-cash goodwill impairment charge of USD297m related to its PMMA business and Aristech Surfaces reporting units. The company saw Q4 sales fall by almost 25% compared with the same quarter a year go while costs fell at a slower pace. The following table shows the company's Q4 financial performance. Figures are in millions of dollars.

Trinseo, a specialty material solutions provider, partners with companies to bring ideas to life in an imaginative, smart and sustainably focused manner by combining its premier expertise, forward-looking innovations and best-in-class materials to unlock value for companies and consumers.

Covestro expands its circular economy portfolio to all major regions

Covestro expands its circular economy portfolio to all major regions

MOSCOW (MRC) -- With the ISCC (International Sustainability and Carbon Certification) PLUS certification of its production site in Baytown, Texas (USA), Covestro is significantly expanding the reach of its product portfolio for the circular economy, said the company.

The Baytown site is the company's largest operating facility in North and South America and its third-largest production site worldwide. This most recent achievement is significant, with all of Covestro's major sites now certified by the internationally recognized ISCC PLUS standard. In addition to Baytown, certified sites include Leverkusen, Dormagen, Krefeld-Uerdingen (Germany), Shanghai (China), Changhua (Taiwan), Map Ta Phut (Thailand), Antwerp (Belgium) and Filago (Italy).

"Thanks to this new milestone, Covestro will soon be able to serve even more customers around the world with an easily accessible, more sustainable product portfolio," says Sucheta Govil, Chief Commercial Officer of Covestro. "Customers in North America can now reduce their carbon footprint and Scope 3 emissions with drop-in, mass-balanced materials derived from recycled and bio-attributed products."

We remind, Covestro has successfully started up a new world-scale facility for the production of chlorine in Tarragona, Spain. It is the first world-scale production plant for chlorine based upon the highly innovative and energy efficient ODC (oxygen depolarized cathode) technology invented by Covestro and its partners.