LG Chem and Enilive move a further step forward to the final investment decision on the project of a new biorefinery in South Korea by signing the joint venture agreement. The agreement has been signed in Rome by Eni CEO, Claudio Descalzi, and LG Chem CEO, Shin Hak-cheol.
Last September, Enilive (a company directly controlled by Eni, which holds 100% of its share capital) and LG Chem announced they were exploring the possibility to develop and operate a new biorefinery at existing LG Chem’s integrated petrochemical complex in Daesan, South Korea, with the aim to complete the biorefinery by 2026 and to make it process approximately 400,000 tons of renewable bio-feedstocks annually using Eni's Ecofining™ technology and produce multiple products including Sustainable Aviation Fuel (SAF), Hydrotreated Vegetable Oil (HVO), and bio-naphtha. LG Chem and Eni will combine expertise in this initiative. The final investment decision is expected in 2024.
Eni CEO Claudio Descalzi stated: “Biofuel production is one of the main pillars of our strategy to contribute to reach net zero emissions by 2050 also through the sale of increasingly decarbonized products to our clients. The biorefinery project we are working on together with LG Chem is a key element to expand Enilive biorefining presence internationally, to raise its capacity from current 1.65 million tons/year to over 5 million tons/year by 2030 and to increase the optionality of SAF production to up to 2 million tons/year from 2030.”
LG Chem CEO Shin Hak-cheol noted, “This agreement holds significant meaning as it represents the collaboration and joint effort of global leading companies towards the common goal of ‘Net Zero’.” He further stated, “LG Chem will actively support the successful execution of this project and, moving forward, will solidify its position as a leading company in the eco-friendly plastic industry, achieving sustainable development and carbon neutrality as a true global entity.”
Sunday, 21 January 2024
Wednesday, 3 January 2024
TotalEnergies signs an agreement to divest its minority stake in Natref refinery to the Prax Group
In line with its strategy to divest non-core assets, TotalEnergies has announced the signature of an agreement to divest the 36.36% minority stake, held by TotalEnergies Marketing South Africa, in National Petroleum Refiners of South Africa (Natref) to the Prax Group. The transaction is subject to customary approvals, consents and authorisations.
Located at Sasolburg (Free State, South Africa), Natref refinery has a capacity of 108 500 barrels of oil per day, supplies the main South African inland market of Johannesburg area and is operated by a Joint Venture between Sasol (63,64%) and TotalEnergies Marketing South Africa.
“The transaction is in line with the Company strategy to focus on its large integrated fuels & petrochemicals platforms and to divest its non-core assets” commented Jean-Pierre Sbraire, Chief Financial Officer of TotalEnergies.
TotalEnergies has been present in South Africa for nearly seventy years, produces and markets a wide range of energies from fuels, biofuels, natural gas and green gases, renewables and electricity and remains committed to its operations in the country.
Located at Sasolburg (Free State, South Africa), Natref refinery has a capacity of 108 500 barrels of oil per day, supplies the main South African inland market of Johannesburg area and is operated by a Joint Venture between Sasol (63,64%) and TotalEnergies Marketing South Africa.
“The transaction is in line with the Company strategy to focus on its large integrated fuels & petrochemicals platforms and to divest its non-core assets” commented Jean-Pierre Sbraire, Chief Financial Officer of TotalEnergies.
TotalEnergies has been present in South Africa for nearly seventy years, produces and markets a wide range of energies from fuels, biofuels, natural gas and green gases, renewables and electricity and remains committed to its operations in the country.
Friday, 15 December 2023
The Prax Group Signs An Agreement To Acquire Interest In PCK Schwedt Refinery From Shell Deutschland Gmbh
The Prax Group has announced that it has signed a Sales and Purchase Agreement (SPA) to acquire a 37.5% interest in PCK Schwedt Refinery (“PCK”) and its associated logistic assets from Shell Deutschland GmbH. PCK is jointly owned by Shell Deutschland GmbH (37.5%), Rosneft Deutschland GmbH (“RDG”) (37.5%) and AET (25%). AET is owned by ENI (1/3) and Rosneft Refining and Marketing GmbH (“RNRM”) (2/3). The transaction is subject to the necessary customary approvals and consents.
Located in the Berlin-Brandenburg region, PCK is one of Germany’s largest refineries (with a capacity of 245K bpd) and is a national strategic asset, responsible for supplying c.90% of Berlin’s demand, and servicing the broader East German region. In addition, the refinery plays an important role supplying oil products to Poland, and other neighbouring European countries.
The transaction aligns strategically with the Prax Group’s recently completed acquisition of the OIL! Tankstellen petrol retail network, substantially enhancing the Group’s customer offering on continental Europe. This will in turn see the Prax Group become a significant presence in the German market and a major player in the European refining sector.
The Group’s intention is that PCK will be key in supporting further European expansion, allowing Prax to better meet the needs of its customers across Europe , whilst continuing to ensure security of supply. The Group plans to support the activities of the refinery through the ongoing energy transition, and to provide further opportunities in the region.
The Prax Group has a proven track record of operating, optimising and improving strategically important assets across the oil value chain, from upstream to downstream. This acquisition will bring new investment to the refinery, to ensure the future of the asset and its employees, and underlines the Group’s determination to support the local economy and wider community.
Separately, the divestment of PCK is part of Shell’s intent to reduce its global refinery footprint to core sites integrated with the company’s trading hubs, chemicals plants and marketing businesses.
Sanjeev Kumar Soosaipillai, Chairman and CEO of the Prax Group said: “The signing of this agreement marks another key milestone for the Group as we look to diversify geographically and enhance our European market presence. This follow-on acquisition in Germany provides us with a solid platform in the heartland of Europe, from which to continue our expansion strategy, while reaffirming our ongoing commitment to building a solid and transformative supply chain to meet the needs of our customers.”
Located in the Berlin-Brandenburg region, PCK is one of Germany’s largest refineries (with a capacity of 245K bpd) and is a national strategic asset, responsible for supplying c.90% of Berlin’s demand, and servicing the broader East German region. In addition, the refinery plays an important role supplying oil products to Poland, and other neighbouring European countries.
The transaction aligns strategically with the Prax Group’s recently completed acquisition of the OIL! Tankstellen petrol retail network, substantially enhancing the Group’s customer offering on continental Europe. This will in turn see the Prax Group become a significant presence in the German market and a major player in the European refining sector.
The Group’s intention is that PCK will be key in supporting further European expansion, allowing Prax to better meet the needs of its customers across Europe , whilst continuing to ensure security of supply. The Group plans to support the activities of the refinery through the ongoing energy transition, and to provide further opportunities in the region.
The Prax Group has a proven track record of operating, optimising and improving strategically important assets across the oil value chain, from upstream to downstream. This acquisition will bring new investment to the refinery, to ensure the future of the asset and its employees, and underlines the Group’s determination to support the local economy and wider community.
Separately, the divestment of PCK is part of Shell’s intent to reduce its global refinery footprint to core sites integrated with the company’s trading hubs, chemicals plants and marketing businesses.
Sanjeev Kumar Soosaipillai, Chairman and CEO of the Prax Group said: “The signing of this agreement marks another key milestone for the Group as we look to diversify geographically and enhance our European market presence. This follow-on acquisition in Germany provides us with a solid platform in the heartland of Europe, from which to continue our expansion strategy, while reaffirming our ongoing commitment to building a solid and transformative supply chain to meet the needs of our customers.”
Wednesday, 22 November 2023
CVR Renewables Selects Honeywell Ecofining™ Technology
Honeywell announced today that CVR Renewables CVL, LLC, a subsidiary of CVR Energy, Inc., will utilize Honeywell’s Ecofining™ technology in its evaluation of a potential project to produce biofuels from feedstocks such as distillers corn oil, at its facility in Coffeyville, Kansas or in the surrounding area. The potential new Ecofining™ plant is being designed to convert approximately 30,000 barrels per day of waste feeds/feedstocks to sustainable aviation fuel (SAF), renewable diesel and other products.
Provided the project receives approval, CVR Renewables should be able to realize a capital efficient and high-yield solution, ideal for producing biofuels from 100% renewable feedstocks. SAF produced with Honeywell’s EcofiningTM technology is a drop-in replacement fuel that requires no changes to aircraft technology or fuel infrastructure. SAF can be used in blends of up to 50 percent SAF with the remainder being conventional (fossil-based) jet fuel. Honeywell’s Ecofining™ process is a proven technology that has been used around the world for years to produce SAF that can reduce greenhouse gas (GHG) emissions up to 80 percent when compared to the emissions from fossil fuels.1
“Renewable fuels are in high demand, and Honeywell’s Ecofining technology can help CVR Renewables maximize SAF production for commercial aviation use,” said Barry Glickman, vice president, general manager, Honeywell Sustainable Technology Solutions. “The Ecofining process was developed to deliver industry-leading performance using a wide range of feedstocks. This technology is ready-now and has already been selected for use in more than 40 plants globally.”
“We are excited about Honeywell’s Ecofining technology and the potential role it could play in our efforts to decarbonize our business,” said Mike Wright, Executive Vice President and Chief Operating Officer of CVR Energy.
Honeywell’s Ecofining™ process, developed in collaboration with Eni SpA, can be used to convert waste plant-based oils, animal fats and other waste feedstocks to renewable diesel and SAF. It has been used to produce SAF commercially since 2016. Honeywell now offers solutions across a range of feedstocks to meet the rapidly growing demand for renewable fuels. In addition to the Ecofining™ process, Honeywell’s renewable fuels portfolio includes the UOP Ethanol to Jet process and the recently announced Honeywell UOP eFining™ process, which converts green hydrogen and carbon dioxide-derived methanol into eFuels.
Provided the project receives approval, CVR Renewables should be able to realize a capital efficient and high-yield solution, ideal for producing biofuels from 100% renewable feedstocks. SAF produced with Honeywell’s EcofiningTM technology is a drop-in replacement fuel that requires no changes to aircraft technology or fuel infrastructure. SAF can be used in blends of up to 50 percent SAF with the remainder being conventional (fossil-based) jet fuel. Honeywell’s Ecofining™ process is a proven technology that has been used around the world for years to produce SAF that can reduce greenhouse gas (GHG) emissions up to 80 percent when compared to the emissions from fossil fuels.1
“Renewable fuels are in high demand, and Honeywell’s Ecofining technology can help CVR Renewables maximize SAF production for commercial aviation use,” said Barry Glickman, vice president, general manager, Honeywell Sustainable Technology Solutions. “The Ecofining process was developed to deliver industry-leading performance using a wide range of feedstocks. This technology is ready-now and has already been selected for use in more than 40 plants globally.”
“We are excited about Honeywell’s Ecofining technology and the potential role it could play in our efforts to decarbonize our business,” said Mike Wright, Executive Vice President and Chief Operating Officer of CVR Energy.
Honeywell’s Ecofining™ process, developed in collaboration with Eni SpA, can be used to convert waste plant-based oils, animal fats and other waste feedstocks to renewable diesel and SAF. It has been used to produce SAF commercially since 2016. Honeywell now offers solutions across a range of feedstocks to meet the rapidly growing demand for renewable fuels. In addition to the Ecofining™ process, Honeywell’s renewable fuels portfolio includes the UOP Ethanol to Jet process and the recently announced Honeywell UOP eFining™ process, which converts green hydrogen and carbon dioxide-derived methanol into eFuels.
Thursday, 9 November 2023
Chevron Lummus Global Commissions ISOTERRA Unit at Chevron's El Segundo Refinery
Chevron Lummus Global LLC (CLG) today announced the completion and successful startup of an ISOTERRA unit as part of Chevron's renewable fuel conversion project at their El Segundo Refinery in Southern California.
The ISOTERRA unit leverages both the refinery's existing assets and Chevron Lummus Global's proprietary catalyst and reactor internals technology to achieve exceptional diesel yields. The conversion from a diesel hydrotreater (DHT) allowed for a quick turnaround of the existing unit, establishing El Segundo as Chevron's first petroleum refinery with the flexibility to supply diesel fuel derived entirely from renewable or traditional feedstocks.
"This is a significant milestone for CLG, and we take great pride in our partnership with Chevron to deliver lower carbon solutions to the market," said Rajesh Samarth, Chief Commercial Officer of Chevron Lummus Global. "The successful startup of this one-of-a-kind ISOTERRA unit demonstrates the viability and scalability of our renewable fuels technology. It also highlights our commitment to helping our customers meet their goals and satisfy the growing demand for alternative fuels."
CLG's ISOTERRA technology is an all-hydroprocessing route designed specifically for converting lipid-rich feedstocks into ASTM-approved renewable diesel or sustainable aviation fuel (SAF). This process provides a viable alternative for the transportation sector, helping to deliver lower carbon solutions.
The ISOTERRA unit leverages both the refinery's existing assets and Chevron Lummus Global's proprietary catalyst and reactor internals technology to achieve exceptional diesel yields. The conversion from a diesel hydrotreater (DHT) allowed for a quick turnaround of the existing unit, establishing El Segundo as Chevron's first petroleum refinery with the flexibility to supply diesel fuel derived entirely from renewable or traditional feedstocks.
"This is a significant milestone for CLG, and we take great pride in our partnership with Chevron to deliver lower carbon solutions to the market," said Rajesh Samarth, Chief Commercial Officer of Chevron Lummus Global. "The successful startup of this one-of-a-kind ISOTERRA unit demonstrates the viability and scalability of our renewable fuels technology. It also highlights our commitment to helping our customers meet their goals and satisfy the growing demand for alternative fuels."
CLG's ISOTERRA technology is an all-hydroprocessing route designed specifically for converting lipid-rich feedstocks into ASTM-approved renewable diesel or sustainable aviation fuel (SAF). This process provides a viable alternative for the transportation sector, helping to deliver lower carbon solutions.
Monday, 23 October 2023
Liwathon Group Acquires 25% Stake in Germany's MIRO Refinery from Esso Deutschland
Alcmene Group, headquartered in Vienna, Austria, is pleased to announce the purchase of a 25% share in MIRO Mineraloelraffinerie Oberrhein GmbH & Co. KG, one of Germany's largest oil refineries, previously owned by Esso Deutschland GmbH. This transaction marks a further significant move towards Alcmene's ongoing strategy to establish itself as a vital player in the global energy infrastructure arena. "Our goal is to increase shareholder value by focusing on operational excellence and strategic asset acquisition," stated Raul Riefler at Alcmene GmbH. The completion of the transaction is subject to applicable regulatory approvals.
The acquisition aligns seamlessly with the broader investment strategy of Liwathon Group, the parent company of Alcmene. Liwathon owns over 2,100,000 m3 of storage across two major terminals in Estonia and the Bahamas, reinforcing its global presence in the energy sector. "We are committed to providing secure, reliable, and affordable energy solutions whilst adhering to the highest industry standards. This acquisition demonstrates our focus on strategic growth, especially in areas where future investment in energy infrastructure is necessary to maintain supply resilience," commented Alcmene GmbH.
Alcmene, a wholly-owned subsidiary of Liwathon Group, specializes in midstream oil and commodity trading. The company aims to unlock asset value through significant capital investments and identifies multiple synergies within the group for future acquisitions in the energy and industrial sectors.
The acquisition aligns seamlessly with the broader investment strategy of Liwathon Group, the parent company of Alcmene. Liwathon owns over 2,100,000 m3 of storage across two major terminals in Estonia and the Bahamas, reinforcing its global presence in the energy sector. "We are committed to providing secure, reliable, and affordable energy solutions whilst adhering to the highest industry standards. This acquisition demonstrates our focus on strategic growth, especially in areas where future investment in energy infrastructure is necessary to maintain supply resilience," commented Alcmene GmbH.
Alcmene, a wholly-owned subsidiary of Liwathon Group, specializes in midstream oil and commodity trading. The company aims to unlock asset value through significant capital investments and identifies multiple synergies within the group for future acquisitions in the energy and industrial sectors.
Monday, 28 August 2023
Technip Energies Awarded a Significant Contract for Hydrogen Production Unit at bp’s Kwinana Biorefinery
Technip Energies (PARIS: TE) has been awarded a significant(1) contract by bp for a hydrogen production unit at its Kwinana biorefinery in Western Australia, in support of the planned project to produce sustainable aviation fuel (SAF) and biodiesel from bio feedstocks.
The contract covers Engineering, Procurement and Fabrication (EPF) of a modularized hydrogen production unit with a capacity of 33,000 normal m3/hour, using Technip Energies’ SMR proprietary technology. Hydrogen is used for the conversion of bio feedstocks into biofuels such as SAF and biodiesel. The unit will be capable of producing hydrogen from either natural gas or biogas produced by the Kwinana biorefinery.
It is planned to integrate with the site’s existing import terminal operations and plans for green hydrogen production, which are currently being assessed. The Kwinana Renewable Fuels project is one of five biofuel production projects bp has planned globally.
Loic Chapuis, SVP Gas & Low-carbon Energies of Technip Energies, commented: “We are pleased to build on our global leadership in the delivery of hydrogen production units to support bp’s expansion of its biofuels and sustainable aviation fuel businesses. By leveraging our expertise in modularization and proprietary hydrogen technology, we are committed to making this project an industrial success.”
The contract covers Engineering, Procurement and Fabrication (EPF) of a modularized hydrogen production unit with a capacity of 33,000 normal m3/hour, using Technip Energies’ SMR proprietary technology. Hydrogen is used for the conversion of bio feedstocks into biofuels such as SAF and biodiesel. The unit will be capable of producing hydrogen from either natural gas or biogas produced by the Kwinana biorefinery.
It is planned to integrate with the site’s existing import terminal operations and plans for green hydrogen production, which are currently being assessed. The Kwinana Renewable Fuels project is one of five biofuel production projects bp has planned globally.
Loic Chapuis, SVP Gas & Low-carbon Energies of Technip Energies, commented: “We are pleased to build on our global leadership in the delivery of hydrogen production units to support bp’s expansion of its biofuels and sustainable aviation fuel businesses. By leveraging our expertise in modularization and proprietary hydrogen technology, we are committed to making this project an industrial success.”
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