ExxonMobil signs agreement for chemical complex

ExxonMobil recently said that it has signed a cooperation framework agreement with the Guangdong Provincial People’s Government to advance discussions concerning the proposed construction of a chemical complex in the Huizhou Dayawan Petrochemical Industrial Park. The new facility would help meet expected demand growth for chemical products in China.

The multibillion-dollar project, which remains subject to a final investment decision, would include a 1.2 million-tons-per-year ethylene flexible feed steam cracker, two performance polyethylene lines and two differentiated performance polypropylene lines. ExxonMobil’s decision to proceed with the project will be based on a number of factors, including receipt of permits and project competitiveness. Start-up is planned for 2023.

The new complex would rely on advanced proprietary technologies in direct crude steam cracking and performance polymers manufacturing. It would support progress toward China’s national petrochemical development priorities, which include self-sufficiency, diversified feedstock sources, rebalancing fuels versus chemicals and advancing new competitive technology. The framework agreement also confirms Guangdong Province’s support in progressing the Huizhou LNG receiving terminal, in which ExxonMobil intends to participate, including supply of LNG.

The company is also evaluating other chemicals manufacturing projects in Asia to help meet expected demand growth in the region. ExxonMobil expects to grow chemicals manufacturing capacity in Asia Pacific and North America by about 40%.

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