INEOS and SINOPEC complete major petrochemicals deal

Save to read list Published by Callum O'Reilly, Senior Editor Hydrocarbon Engineering, Wednesday, 02 August 2023 10:30

INEOS has completed the formation of a 50/50 joint venture with SINOPEC for the Tianjin Nangang Ethylene Project in China, which was announced in December 2022.

SINOPEC is currently constructing the plant, which is expected to be on-stream by April 2024.

The petrochemical complex includes a 1.2 million tpy cracker, a new 500 000 tpy high-density polyethylene plant to produce INEOS pipe grade under license, and 11 other derivative units.

The completion of the agreement marks the continued progression of the significant petrochemical deals announced by the parties in July and December 2022, and highlights the close relationship and growing collaboration between SINOPEC and INEOS.

Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/02082023/ineos-and-sinopec-complete-major-petrochemicals-deal/

Increased LNG export capacity and natural gas production through a major expansion in the North Field, Qatar, is expected to be completed by 2028. Expanded North Field natural gas production is expected to offset declines from mature fields and will increase overall natural gas output in Qatar.

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