Shell Singapore plant divestiture delayed completion

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Shell's sale of Singapore plant and other assets to Indonesian Chandra Asri and Glencore will be completed in the first quarter of 2025.

       On might 8 this year, Shell announced the sale of its physical assets and commercial contracts in Singapore to CAPGC, a joint venture in which Chandra Asri holds a majority stake and Glencore holds a minority stake, to an undisclosed transaction. But The deal was originally planned to close by the end of 2024, however a Shell spokesman said that due to the transaction subject to regulatory approval and other customary closing conditions, the expected completion of the transaction has been postponed to the first quarter of next year. Furthermore       According to market sources, a new CAPGC entity called Aster Chemicals and Energy will be responsible to operating the Singapore facility and handling its crude oil procurement and fuel sales. I've found that Shell Singapore's Energy and Chemical Park (SECP) includes its refining and chemical integration assets on Wakong Island, which includes a 237000-barrel/day refinery and a 1. And Based on my observations, 1 million-ton/year ethylene cracker, and Jurong Island, which includes a plant producing monoethylene glycol. But Chandra Asri said its move to acquire SECP assets was in line with its "go global" development strategy, as it seeks overseas expansion in the energy, chemicals and infrastructure sectors. For instance       The of assets in Singapore will increase Chandra Asri's overall capacity from around 4. 2 million t/a today to greater than 18 million t/a in 2026, in addition to the acquisition of Shell's Singapore plant will provide naphtha feedstock to Asri's cracking unit in Chandra and enable the company to combine its petrochemical production with refining, thereby growing efficiency and reducing costs. Chandra Asri operates Indonesia's only naphtha cracking unit, which is able to create 900000 tons of ethylene and 490000 tons of propylene per year. These basic raw materials are further processed into other petrochemical items in the complex.

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