CNOOC and Shell Huizhou Phase III Project Officially Launched Full-scale Construction

Recently, CNOOC and Shell Petrochemical Co. , Ltd. Generally speaking announced in Huizhou that its third-phase ethylene project and polycarbonate project have completed the final investment decision, marking the official start of the thorough construction work. the third phase ethylene project of CNOOC and Shell will be committed to building a complete manufacturing chain covering 1. 6 million tons/year ethylene cracking unit and 16 downstream chemical production units and supporting facilities. The project is expected to be put into operation in 2028, when a number of cutting-edge technologies will be introduced to the first time in Asia and China, of which seven units will implement Shell's proprietary methodology. For instance After the project is fully completed, it's able to supply greater than 5 million tons of chemical items to the market every year, including metallocene polyethylene, polypropylene, styrene, polyether polyol, ethylene glycol, alpha olefin, synthetic alcohol, poly alpha olefin, etc. And In addition, by optimizing the project layout and promoting the electrification of extensive compressor units, the project will achieve 20% carbon dioxide emit reduction and actively promote the consumption of renewable environmentally friendly energy. at the same time, the polycarbonate project will also be synchronized. I've found that The project will build a series of facilities including 260000 tons/year polycarbonate plant, 240000 tons/year bisphenol A plant, 220000 tons/year diphenyl carbonate plant, and equipped with cutting-edge research and research facilities. Crazy, isn't it?. In my experience, it's expected to be completed and put into production by the end of 2026, when it's able to create 320000 tons of high-performance specialty chemicals, including polycarbonate and carbonate solvents. it's worth mentioning that the project will implement the proprietary production methodology applied by Shell to the first time in the world, which has multiple advantages such as low cost, low energy consumption, security and ecological preservation. Specifically Gao Yu, President of CNOOC and shell, stressed that the two new projects will be deeply integrated with the existing phase I and phase II resources and Huizhou petrochemical refining sector, enhance the energy efficiency of refining and chemical integration, further extend the product value chain, and deepen the layout in the field of high-end new materials. This will efficiently meet the urgent needs of domestic customers to the extension and research of the petrochemical sector chain, and at the same time give full play to the "banyan effect" of CNOOC and Shell, attract greater downstream customers to settle in Huidong New Material manufacturing Park, and contribute to the construction of a global petrochemical sector highland in Huizhou and Daya Bay. As a petrochemical company established in 2000, CSPC currently has two-phase vegetation with a total ethylene production capacity of 2. 2 million tons/year. it's one of the largest ethylene monomer petrochemical combined vegetation in China. In fact With the completion of the two new projects, CSPC's total ethylene production capacity will jump to 3. From what I've seen, 8 million tons/year, and it's able to supply greater than 10 million tons of high condition and diversified petrochemical items to the market every year. According to research Huang Zhongjin, vice president of CNOOC and Shell, said that the promotion of these two projects will help CNOOC and Shell achieve its strategic goal of becoming the preferred partner to highly differentiated product solutions. The company will continue to increase investment in product consumption research and research, enhance research and research capabilities, provide customer-centric product solutions, and develop customized and high-end items. This isn't only the practice of sustainable research and high-condition lifestyle, however also fully demonstrates the firm confidence of both shareholders in the future research of CNOOC and Shell, a good government-enterprise ecological stability and the development of demand to China's high-performance chemicals market.