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LOTTE Chemical enhances flexibility and efficiency of raw ingredients by expanding local NC facilities and LPG
2021.07.05
LOTTE Chemical enhances flexibility and efficiency of raw ingredients by expanding local NC facilities and LPG.
■ To enhance LPG usage of local ethylene production facilities by about 40% by the end of ’22. Enhancing competitiveness by expanding flexibility of naphtha and LPG, the raw ingredients for NC (Naphtha Cracking) factories in Yeosu∙Daesan.
■ To enhance LPG usage, which is cost-competitive compared to naphtha, for cost-efficiency and overall efficiency through selective use of raw ingredients.
■ Stable procurement of raw ingredients to prevent shortage of raw ingredients following oil refineries’ petrochemical business.
■ “We will continue specific practices in the perspective of ESG management, such as conversion to low carbon ingredients and reduction of carbon emission,” says President Jin Goo Hwang of Basic Material Business.
■ To enhance LPG usage, which is cost-competitive compared to naphtha, for cost-efficiency and overall efficiency through selective use of raw ingredients.
■ Stable procurement of raw ingredients to prevent shortage of raw ingredients following oil refineries’ petrochemical business.
■ “We will continue specific practices in the perspective of ESG management, such as conversion to low carbon ingredients and reduction of carbon emission,” says President Jin Goo Hwang of Basic Material Business.
LOTTE Chemical will invest approximately 140 billion KRW to reduce Naphtha usage and increase LPG usage for ethylene production in Yeosu and Daesan factories.
They are planning to enhance LPG usage in local ethylene production facilities from 20% to about 40% by the end of 2022 and diversify raw materials by up to 50% according to the capabilities of ethylene facilities. By doing so, they will enhance cost-efficiency by increasing the use of LPG, which is more cost-competitive than naphtha, currently the most mainly used raw material for ethylene production, and improve efficiency in general through selective use of raw ingredients.
The petrochemical industry in Korea has recently replaced naphtha with LPG for ethylene and propylene production process to save cost, reduce carbon dioxide, and lower emission of air pollutants.
LOTTE Chemical’ Daesan Factory has completed the construction for addition of facilities since mid-May and Yeosu and Daesan Factories will continue to add facilities to reduce air pollutants in addition to the LPG facilities to minimize environmental impact.
“It is important to make investments in competitive facilities at the right time to keep up with the everchanging business environment,” said President Jin Goo Hwang of Basic Material Business. “We will continue specific practices in the perspective of ESG management, such as conversion to low carbon ingredients and reduction of carbon emission.”
LOTTE Chemical is producing about 2,300,000 tons of ethylene in Yeosu and Daesan and recording top ethylene production in Korea and the seventh in the world by producing a total of 4,500,000 tons of ethylene together with all of the global production bases in the U.S. and Malaysia.
They are planning to enhance LPG usage in local ethylene production facilities from 20% to about 40% by the end of 2022 and diversify raw materials by up to 50% according to the capabilities of ethylene facilities. By doing so, they will enhance cost-efficiency by increasing the use of LPG, which is more cost-competitive than naphtha, currently the most mainly used raw material for ethylene production, and improve efficiency in general through selective use of raw ingredients.
The petrochemical industry in Korea has recently replaced naphtha with LPG for ethylene and propylene production process to save cost, reduce carbon dioxide, and lower emission of air pollutants.
LOTTE Chemical’ Daesan Factory has completed the construction for addition of facilities since mid-May and Yeosu and Daesan Factories will continue to add facilities to reduce air pollutants in addition to the LPG facilities to minimize environmental impact.
“It is important to make investments in competitive facilities at the right time to keep up with the everchanging business environment,” said President Jin Goo Hwang of Basic Material Business. “We will continue specific practices in the perspective of ESG management, such as conversion to low carbon ingredients and reduction of carbon emission.”
LOTTE Chemical is producing about 2,300,000 tons of ethylene in Yeosu and Daesan and recording top ethylene production in Korea and the seventh in the world by producing a total of 4,500,000 tons of ethylene together with all of the global production bases in the U.S. and Malaysia.
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