It is very strange to hear any industrial news from Eastern Europe, let alone for a new world-scale integrated refinery-petrochemical complex.
Poland’s LOTOS and Azoty have signed an agreement for a new joint venture via a special purpose vehicle
for a feasibility study of such complex to be installed in Poland to be announced next year in 2014.
for a feasibility study of such complex to be installed in Poland to be announced next year in 2014.
The refinery-petrochemical complex is expected to start operation in 2019, with construction to start as early as 2016. The complex is expected to optimize a unique situation in Poland where there is excess of light fractions from its refinery which can be further utilized for downstream chemical complex.
Analysts are divided but if materialized, this will be a very interesting times for petrochemical times, as a lot of refinery-petrochemical complex are in the pipeline throughout the world from Asia, Middle East, and a lot of new upgrade projects in Europe. The situation is definitely a long trade balance for the year 2018-2019 market outlook. It is interesting to see the response from the Americas, especially the US and Canada due to the shale gas revolution.
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