Alberta launching petrochemical grants

Spanish Market: LPG, Petrochemicals
09/07/20

Alberta's government is launching the Alberta Petrochemicals Incentive Program, a 10-year program that will issue grants rather than royalty credits for new petrochemical projects in the province.

The grants of an unspecified amount would run alongside the government's existing royalty-based Petrochemicals Diversification Program, said Dale Nally, Alberta's associate minister of natural gas and electricity. The new grants will begin in the fourth quarter with a goal of attracting C$30bn ($22bn) in investment by 2030.

The grants will be issued to companies after eligible projects are operational, according to Nally. The program will run year-round without any specific deadline. Grant amounts, terms and application process are yet to be finalized.

The ministry estimated Alberta's ethane production could supply at least two new ethylene plants in the region.

A slowdown in oil and gas production in the region during the first quarter contributed to economic uncertainty in western Canada.

"This program is exactly what the industry needs and will attract a lot of investment," said David Chappell, senior vice president of InterPipeline and board chair of Alberta's Resource Diversification Council.

InterPipeline's 525,000 t/yr Heartland propane dehydrogenation (PDH) unit and associated derivatives units in Strathcona County, which will consume approximately 22,000 b/d of propane from its Redwater fractionator, is already under construction and is slated for operation in early 2022. InterPipeline is still pursuing a strategic partner for the project.

Pembina announced a final investment decision on its own 550,000 t/yr PDH unit and polypropylene facility as part of an investment with Kuwait's Petrochemical Industries Company in February 2019, but has since deferred that investment.

By Yulia Golub

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18/11/24

Brazil natural gas supplies diversifying

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Neste to supply renewable chemical feedstock to PCS

18/11/24

Neste to supply renewable chemical feedstock to PCS

London, 18 November (Argus) — Finland's Neste will supply Singapore-based chemicals company PCS with renewable material feedstock for production of plastics. The Neste RE material will be supplied to PCS for use at a site on Jurong Island, Singapore. Neste RE is based on waste products including used cooking oil (UCO) or waste residues from vegetable oil processing. PCS produces ethylene, propylene and butadiene for consumers across Asia-Pacific. The first deliveries from PCS will include butadiene, the company said. Initial buyers include Mitsubishi, Toray Plastics in Malaysia and Synthomer. Neste previously said beverage maker Suntory will produce PET bottles derived from bio-paraxylene converted from bio-naphtha by the Finnish refiner. By George Barsted Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Hong Kong unveils green maritime fuel action plan

18/11/24

Hong Kong unveils green maritime fuel action plan

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Cop: Korea’s Plagen plans Azeri green methanol plant

15/11/24

Cop: Korea’s Plagen plans Azeri green methanol plant

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Brazil starts US, Canada PE-dumping probe

14/11/24

Brazil starts US, Canada PE-dumping probe

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