CNOOC, Shell Huizhou govt further expand petrochemical complex in China

CNOOC, Shell and Huizhou govt to further expand petrochemical complex in China

5:30 AM, 19th May 2020
CNOOC, Shell and Huizhou govt to further expand petrochemical complex in China

HONG KONG, CHINA: CNOOC Oil & Petrochemicals Co Ltd (CNOOC), Shell Nanhai BV (Shell) and the Huizhou Government today announced a strategic cooperation agreement to further expand the CNOOC and Shell Petrochemical Company (CSPC) 50:50 joint venture in Huizhou, Guangdong Province, China.

Due to COVID-19 travel restrictions, the agreement was signed in a virtual online ceremony, attended by dignitaries including Party Secretary of Guangdong Province Li Xi, CNOOC Chairman Wang Dongjin, Shell CEO Ben van Beurden, CNOOC VP for Downstream Chen Bi and Shell Downstream Director Huibert Vigeveno.

The expansion is planned to serve the growing number of intermediate and performance chemicals customers in the key market of China, supplying products including SMPO, polyols, ethylene glycol, polyethylene and polypropylene. These chemicals are used in a wide range of end products, in healthcare, construction, fabrics, packaging, transport and electronics.

For the first time in Asia, Shell would apply its advanced technology for linear alpha olefins. The project is intended to include construction of a new 1.5 million-tonnes-per-year ethylene cracker, with the mega-site bringing economies of scale and enhanced competitiveness.

“Our growth strategy is based on long-term chemicals demand. We are very selective in our investments, and this agreement underlines Shell’s confidence in both the chemicals business fundamentals and our strategic partnerships with CNOOC and the Huizhou Government,” added Thomas Casparie, Executive Vice Present for Shell’s global chemicals business.

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