Korea Gas Corp eying shale-gas assets

Korea Gas (Kogas) is to invest $3Billion in Australia LNG Projects comprising an estimated $1 billion in Royal Dutch Shell's Prelude LNG project and at least $2 billion in the Gladstone LNG project.

Each project is expected to provide the company with around 3.5 million tons of LNG annually.

Kogas is also looking at the U.S. shale gas assets. Kogas is planning a new Houston office.

Saudi Building Ethyl Acetate and Butyl Acetate Plants

Saudi International Petrochemical Company (Sipchem) through its subsidiary is planning a Saudi Riyal 350 Million ethyl acetate and butyl acetate plant (EA/BA) with production capacity of 100,000 tons per year. The new chemical plants will be located in Jubail Industrial City.

The chemical plants will be vertically integrated with the feedstocks, acetic acid and ethanol to come from another Sipchem subsidiary. The chemical complex is planned to start commercial operation in second half of 2013.

SOCAR Launched Mega Refining Petrochemical Mega Project

The State Oil Company of the Azerbaijan Republic (SOCAR) has launched a new joint venture with global engineering and construction company Foster Wheeler for a $15bn (€11.4bn) mega project for a new refining-gas-petrochemicals complex.

The complex will produce more than 2 million tonnes per year of polymer capacity which includes

polyethylene (PE) with capacities of 670,000 tonnes/year and polypropylene (PP) with 550,000 tonnes/year.

The refinery is targeted to produce as much as 10 million tonne/year oil of products. The mega complex will also house gas processing unit which will also provide the feedstock ethane for the cracker.

Halliburton Teams up with Petronas

Petronas has teamed up with Halliburton for exploration of potential shale oil and gas resources in Asia Pacific. The collaboration includes framework agreement for the evaluation and development of shale technical centre of excellence to be enjoyed by both parties.

Petronas under its exploration and production arm company, Petronas Carigali is expected to be benefited from the deal to develop internal capabilities in development of shale oil exploration activities.

BASF Investing a New Polyurethane Site in Dahej, India

BASF India is looking at investing a Rs 10 Billion (USD $195 million) for an integrated hub for polyurethane manufacturing producing care chemicals and polymer dispersions for coatings and paper at Dahej. The site is expected to be ready by 2014.

Products to be churned out from the site will be polyurethane facility will produce Elastollan TPU (thermoplastic polyurethane), Cellasto NVH (noise, vibration and harshness) parts and polyurethane systems including care chemicals for surfactants production, and polymer dispersions facility producinge Acronal and Styrofan, key ingredients for architectural coatings, adhesives and construction, Styronal and Basonal for paper coating and Basoplast for sizing.

Mega Projects Will Send Shortage of Engineering Talents

The oil and gas industry in particular to mega projects which integrate refinery and petrochemical is expecting to attract and compete for engineering talents due to the massive manpower requirement for the mega projects.

By end of this decade it is expected that at least four mega project for refinery and petrochemical integrated site will be already onstream which includes Sadara Chemical, a Saudi Aramco and Dow Chemicals joint venture in Saudi Arabia, Reliance new refinery-petchem site in India, Shell joint venture with CNOOC China and PETRONAS RAPID project for massive refinery and petrochemical project in Southern Malaysia.

These mega projects will require top talents in the senior project engineering, business development and trading and operation staff and require certain competitive edge to gain access to advanced technology and technical and market knowledge.

Shortage of engineering talents expected to heighten in the year 2015 where peak of activities will merge from all these mega projects in various stages.

SABIC signed TDI/MDI agreement with Mitsui Chemicals in Polyurethane Technology Deal

The Saudi Basic Industries Corporation (SABIC) has signed a TDI and MDI technology license agreement with Mitsui Chemicals for collaboration in the polyurethane chain inked in Jubail, Saudi Arabia. The agreement was signed by Mohamed Al-Mady, SABIC vice chairman and CEO, and Toshikazu Tanaka, Mitsui Chemicals president and CEO.

Under the deal, SABIC will use Mitsui’s technology to produce polyurethane raw materials which are TDI and MDI, which are both raw materials for producing polyurethane. SABIC will also be able to participate in joint technology development for TDI and MDI.