“european Gas Market Trends: Supply, Demand, And Pricing” – SAO PAULO () – Braskem has established a joint venture (JV) to build another bio-based ethylene plant in Thailand with the country’s polyethylene (PE) producer Thai Polyethylene Company (TPE), the Brazilian polymers major said on Wednesday. The JV will be called Braskem Siam. The two companies are mulling the project from 2021. Braskem and SCG Chemicals, TPE’s parent company, should be making a final investment decision (FID) in Q4 2024 after undertaking initial engineering design (FEED). The company did not disclose a potential production capacity for the plant on Wednesday, but in 2021 an executive at SCG said the plant’s potential capacity for bio-PE could be 200,000 tonnes per year. The executive said the plant would likely be located within SCG’s production complex in Rayong, southern Thailand. “Braskem has signed a joint venture agreement with TPE to establish Braskem Siam Company Limited (Braskem Siam), a joint venture company to engineer the project for bio-ethylene from a bio-ethanol dehydration plant using EtE EverGreen technology,” said the Commission. Brazilian company. The EtE EverGreen branded technology was developed by Braskem and Lummus Technology. Bioethylene is obtained by dehydrating ethanol. Braskem processes the bio-based ethylene like its other olefins and markets the resulting polyethylene (PE) under the I’m Green brand name. The establishment of the JV with TPE is subject to approval by the relevant antitrust authorities. Braskem went on to say that the newly formed JV builds on its corporate strategy to invest in greener technologies. “It is part of Braskem’s bio-based growth path, which will support the company to achieve its commitment to expand the production capacity of green products to 1m tonnes per year by 2030,” he said. Earlier this year, Braskem completed an expansion of its Triunfo site, in the Brazilian state of Rio Grande do Sul, to produce bio-ethylene, with a capital expenditure (capex) of $87m. The expansion of the Triunfo plant added 60,000 tons per year of bio-ethylene capacity, bringing the total ethylene production capacity of the complex to 260,000 tons per year. Front page picture: Braskem’s Triunfo facilities Source: Braskem Additional reporting by Al Greenwood and Bruno Menini

LONDON () – European chemicals producers recorded a rise in output for June compared to the previous month according to the EU statistics agency Eurostat, but the trend was not consistent across all major economies. The latest data released on Wednesday showed that production rose by 0.6% in the eurozone and 0.7% in the EU, but stronger growth in some key producers was offset by declines in other countries. The following chart shows the % change in chemical production compared to the previous month: Region/country June May April EU 0.7 0.1 -0.4 Eurozone 0.6 0.5 -0.6 Germany 3.5 -0.9 -1.9 France – 1.3 3.2 1.9 Spain 1.2 -0.5 -1.6 Italy -2.7 -0.1 -2.3 The Netherlands 6.0 3.6 -2.5 Poland 4.6 -2.5 0.9 Chemical producers in Europe struggled to maintain output in the second quarter, as although energy costs have softened, sales opportunities are limited by low demand and competitive imports. Total industrial production increased by 0.5% in the euro area and 0.4% in the EU compared to the previous month, driven by a 0.5% increase in energy output for both regions. In contrast, production in other sectors fell at different rates (mostly between 0.1-0.9%), reflecting the relative influence of the energy sector on European manufacturing. The intermediate goods segment (including chemicals) fell by 0.9% in the eurozone (just outpacing the 1.1% fall in non-durable consumer goods) and was the biggest drag on EU output, falling by 0.8 %. Increased energy production could enable manufacturers in Europe to pay lower rates for feedstocks, but if demand is expected to remain weak, producers may choose to avoid higher input costs which may prove difficult have to pass it on. This is reflected in output rates compared to a year earlier when run rates were much higher and market sentiment more resilient. The following chart shows the % change in chemical production compared to the previous year: Region/country June May April EU -9.7 -10.6 -10.7 Eurozone -8.9 -10.0 -10.8 Germany -11.5 -14.5 -16.4 France 0.6 0.6 -2.5 Spain – 7.2 -8.8 -6.4 Italy -13.3 -10.0 -10.9 The Netherlands -5.7 -16.9 -20.0 Poland -20.4 -19.4 -17.1 Demand was strong after the the coronavirus pandemic, and supply chains were pressured by greens along with shortages of some specialty materials. This led to longer lead times for producers and enabled them to maintain consistent output, with the prospect of shortages in the early months of the war in Ukraine weighing on fundamentals. The change in market sentiment is also reflected in wider industrial output, which fell by 1.2% year-on-year in the eurozone and the EU in June. Across segments the trend was more consistent in supporting a decline in production, driven by energy in both regions, which fell by 7.8% and 8.9% in the eurozone and the EU compared to a year earlier. Intermediate goods decreased by 6.3% and 6.6% respectively, while consumer durables decreased by 5.2% and 6.5% compared to June 2022. Production of non-durable consumer goods recorded gains of 0.2% in the euro area while rising substantially to 2.1% in the euro area. EU, and capital goods production increased by 4.4% and 4.8% in their respective regions. The front page picture shows the Marl Chemical Park in Germany (image credit: flight-pictures/imageBROKER/Shutterstock)

“european Gas Market Trends: Supply, Demand, And Pricing”

BLOG: LLDPE buyers’ market almost perfect as major producers see sharp declines in Chinese sales and losses in export volumes

Natural Gas World

SINGAPORE () – Click here to see the latest blog post on Asian Chemical Connections by John Richardson. Plastic converters and brand owners should have saved many millions of dollars on polyethylene (PE) and polypropylene (PP) purchases since the downturn began in January 2022. If not, the CFOs and CEOs of these companies must be asking a lot of their supply teams. search queries – as investors do. And, of course, the converters and brand owners need to implement the systems to start saving money, if they are not already saving money. But the converters and brand owners face a major risk of supply disruptions which they must continuously monitor over the next two years, as I don’t see a recovery happening before 2025 now. As I have detailed on PP – and I will detail it i. High density PE (HDPE) and low linear density (LLDPE) in later blog posts – will require significant capacity shutdowns and/or postponement of new projects to return producer operating rates to normal levels. Today’s blog highlights the situation in the H1 2023 LLDPE markets: Producers in Singapore, Thailand, Iran. Saudi Arabia, South Korea, the United Arab Emirates and Indonesia saw estimated declines in sales to China in the first half, totaling $594m compared to average sales from H1 2019 to H1 2022. Meanwhile, US sales increased by $479m, a sign that the lowest cost producers are going to be the only winners in a severely oversupplied market. Total H1 2023 LLDPE exports by many of the major producers were down significantly year-on-year, reflecting the global nature of this crisis. It’s not pretty and it’s likely to get even uglier from the producers’ point of view before markets get pretty again. Editor’s note: This blog post is an opinion piece. The opinions expressed are those of the author, and do not necessarily represent the opinions of .

HOUSTON () – Canadian potash developer Sage Potash Corporation announced that it has reached a key milestone in its work roadmap as it has received a key water right permit from the Utah Department of Natural Resources Water Rights Division. The agency has given Sage Potash permission to withdraw up to 0.207 cubic feet per second (CFS) or 150 acre-feet of brackish water annually, effective until July 31, 2043. Water will be obtained from the access well located intended for extraction and throughout the year. use within the entire Sage Plain Potash project, which consists of over 88,000 acres of mineral leases and permit applications in Utah’s Paradox Basin, with two potash beds and an inferred resource of 279.5m tonnes of high-grade potash. In its commitment to aligning economic growth with environmental sustainability, Sage Potash emphasizes that its planned operations will not impact traditional sources of irrigation, agriculture or drinking water. Instead, the company will use brackish water, which is mainly composed of salt and other minerals, making it unsuitable for traditional uses. “In any resource project one of the biggest risks is progress beyond permitted exploration. Acquiring water/brine access rights is a critical step in de-risking the Sage Plain project as production cannot take place without water,” said Peter Hogendoorn, CEO of Sage Potash. “We are moving forward with multiple permit applications and we are very pleased with the support we are receiving from the various state agencies involved in Utah.”

HOUSTON () – US-based renewable plastics producer Verde Bioresin took a step closer to going public through a special purpose acquisition company (SPAC), and its sponsor filed a registration statement that revealed key details about its production ramps and pricing, said on Tuesday. Verde’s sponsor, TLGY Acquisition, said the company will have an enterprise value of $365m. Verde and TLGY should complete the necessary steps

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