12-13 Sep, 2017 - Singapore, SINGAPORE
Novotel Singapore Clarke Quay
Novotel Singapore Clarke Quay
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“China and India to lead Asia’s big petrochemical shift” ~ May 2017, ICIS
Within Asia, the petrochemical scene is going through key structural changes with China and India taking the lead.
With the Chinese government slapping regulations to reduce emissions, China’s coal-to-olefins projects have taken a toll. With participation from the private sector, there is a new wave to construct and upgrade refineries, propane dehydrogenation (PDH) plants, and 10 new naphtha crackers are planned to come on stream in the next 5 years.
Things are on the rise in India, demand growth has been fairly robust in the domestic market. Reliance has ramped up its Jamnager facility and is operating at almost full capacity at the other 3 crackers. State-owned refiners IOC, HPCL and BPCL have also come together with a signed agreement to build the world’s largest 60 million tonne refinery and 10 – 12 million tonne petrochemical complex. In July, the market players also have their focus on how India’s single tax (GST) structure will impact on the country’s petrochemical and polymers sector.
With the two Asian giants dominating the expansion bandwidth, how is this going to affect the balancing of the markets? And meanwhile in South-East Asia, Vietnam and Indonesia have also announced plans for capacity expansion.
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A new refinery and petrochemical facility will be built in Ratnagiri district of Maharashtra in India by state-owned oil firms – Indian Oil Corp (IOC), Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) – each owning - 50 per cent, 25 per cent, 25 per cent stakes respectively.
To be built at a cost of USD 40 billion, it is claimed that the new complex will be the largest of its kind in the world.
The complex will have 60 million tonnes of refining capacity as well as an accompanying petrochemical plant that will include an aromatic complex, naphtha cracker and polymer complex.
Expected to take five to six years to complete the project, after land is acquired and all clearances are secured, the refinery will feature three crude units of 20 million tonnes each. The refinery will produce petrol, diesel, LPG, ATF and feedstock for making petrochemical that are basic building blocks in plastic, chemical and textile industries.
India – the world's third largest energy consumer after US and China has a per capita energy consumption of about one-fourth of the world average.
India’s $50 billion petrochemicals market, is expected to grow 9% annually to reach 40 million tonne-a-year market of $65-70 billion revenues by 2019-20, according to India’s oil minister Dharmendra Pradhan.
He added that the petrochemicals market in India is expected to grow at a CAGR of 1.5 times that of GDP in the next 10 years.
The country is expected to leverage on its new refinery capacity (added by state-run oil companies), to build new petrochemical complexes that will help to develop the country as a polymer hub.
More about petrochemical market discussed at CMT’s 23rd Asia Petrochemical Summit (APS) is coming to Singapore on September 12-13., 2017.
Contact Ms. Huiyan at huiyan@cmtsp.com.sg or call +65 6346 9113 for more information.
Read more:
IOC, BPCL, HPCL sign agreement to set up $40 billion refinery
India to add more petrochemical capacity: Dharmendra Pradhan
08 Sep, 2017
India’s Prime Minister Narendra Modi recently inaugurated OPaL’s (ONGC Petro additions Ltd) Rs 30,000-crore petrochemical complex in Special Economic Zone under Petroleum, Chemical and Petrochemical Investment Region (PCPIR) at Dahej, Gujarat.
The new complex is said to be India’s largest petchem complex with a total production capacity of 14 lakh metric tonnes of polymers and 5 lakh metric tonnes of chemicals. OPaL aims to gain a market share of 13 percent in the polymer sector by 2018.
The complex will produce a variety of polymers including - linear low density polyethylene (LLDPE), high density polyethylene (HDPE), polypropylene (PP) as well as chemicals such as benzene, butadiene, and pyrolysis gasoline. The complex is expected to use ONGC’s captive feed of C2+ streams (ie, ethane, propane and butane) from C2-C3 extraction plant, and naphtha from Hazira & Uran to produce polyethylene (PE) and polypropylene (PP).
The new complex is well positioned to boost India’s downstream plastic processing industries, and generate further investment of Rs 40,000 crore.
The petchem facility also aims to increase India’s polymer consumption which today stands at an average of 10 kg per capita, compared to a world average of 32 kg. Opal can encourage polymer consumption in the country and its products – especially in key sectors like infrastructure, housing, packaging, irrigation, automotive and healthcare.
The increased use of polymers is also expected to reduce burden on traditional materials like wood, paper, metal – thus helping in conservation of natural resources like water and energy.
More on Asian petrochemical markets will be discussed at 23rd Asia Petrochemical Summit (APS) on 12-13 September, 2017 in Singapore.
Contact Ms. Huiyan at huiyan@cmtsp.com.sg or tel +65 6346 9113 for more details.
Read more>>>
13 Jul, 2017
Thailand’s Siam Cement Group (SCG) – that already has 46 percent stakes in Vietnam’s Long Sơn Petrochemicals (LSP) Complex will now increase it to 71 percent, making it the largest shareholder. Vietnam Oil and Gas group PetroVietnam (PVN) will own the remaining 29 per cent.
SCG will acquire part of the LSP complex at an investment of US$36.1 million to help revive the delayed petchem project. LSP is located around 100km from Ho Chi Minh City and is Vietnam’s first petrochemical complex. The complex aims to develop a 1-million-tonne ethylene cracker capable of using both gas and naphtha feedstock – with an olefin capacity of up to 1.6 million tonnes per annum.
To be financed through a combination of equity and debt, the final decision is to be taken in H1 2017. The acquisition is conducted via SCG’s wholly-owned subsidiary Vina SCG Chemicals (VSCG).
SCG that has stakes in a variety of industries such as cement, construction materials, chemicals and packaging, has several investments in Indonesia, Việtnam and Cambodia. By the end of last year, SCG’s investments in Vietnam stood at over $800 million.
More on Asian petrochemical markets will be discussed at 23rd Asia Petrochemical Summit (APS) on 12 – 13 September, 2017 in Singapore.
Contact Ms. Huiyan at huiyan@cmtsp.com.sg or tel +65 6346 9113 for more details.
26 May, 2017
