Exxon Inks China Petrochemical, LNG Agreement
ExxonMobil has signed a cooperation agreement with the government of China’s Guangdong province to build a chemical complex and invest in an LNG terminal, it said September 5.
The US supermajor said it will advance discussions concerning the proposed construction of a chemical complex in the Huizhou Dayawan Petrochemical Industrial Park. The project, which remains subject to a final investment decision (FID), would include a 1.2mn mt/yr 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. Startup is planned for 2023,” it said.
According to ExxonMobil, the framework agreement also confirms Guangdong province’s support in taking forward the Huizhou LNG receiving terminal, in which the US firm intends to participate, including supply of LNG. The company did not provide details about the capacity of the proposed terminal.
The company said it is also evaluating other chemicals manufacturing projects in Asia to help meet expected demand growth in the region.