Singapore is further expanding its chemical offerings, at the Jurong site with a newly announced petrochemical complex by ExxonMobil. This is ExxonMobil second petrochemical complex in Singapore's Jurong Island, a prime area marked by the Singaporean for its chemical industry. The complex comprises of 1 million tonnes per annum ethylene cracker with downstream chemical plants.
ExxonMobil site in Singapore is already a single biggest refining/petrochemical site for ExxonMobil's 100% subsidiary which includes speciality chemicals for markets in Asia Pacific including China and India. Its speciality chemicals are a strategy to wither downturn in chemical markets.
ExxonMobil refinin/petchem complex is unique because it does not produce naphtha and processes crude oil as feedstock directly to its cracker. This resolves the issues of high capex and processing costs of intermediary chemicals.
The Singaporean government approach for the Jurong Island is to provide government support for the infrastructure and investment in the Jurong Chemical Site. Prime Minister Lee commanded the rerouting of highway to Jurong Site to inaugurate the ExxonMobil second petchem complex. The Prime Minister is also speaking of building world's biggest LNG terminal to create alternative feedstock for the chemical sites in Jurong Island.
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