APLA ’09: Pemex signs ethane supply contract with Braskem, Idesa

08 November 2009 03:19  [Source: ICIS news]

 MEXICO CITY (ICIS news)--Mexican state-owned energy group Pemex has signed a contract to supply ethane raw material to a consortium of Mexico’s Idesa and Brazil’s Braskem for a proposed new petrochemicals complex in Mexico.

The announcement was made on the eve of the Latin American Petrochemical Association (APLA) annual meeting.

Under the terms of the contract, signed on Friday, Pemex said its gas and basic petrochemicals division will supply 66,000 bbl/day of ethane to the consortium.

Idesa and Braskem expect to complete the project, located in Coatzacoalcos, Veracruz, in 2015, Pemex said in a statement. The project, known as Ethylene XXI, will centre on a 1m tonne/year ethylene plant and include polyolefins production units.

“In addition to consolidating the productive, commercial and business links between Mexico and Brazil, it will reduce substantially imports of ethane-derived petrochemicals products, improving the commercial balance of our country,” Pemex said.

Ethylene XXI will also create new jobs and drive new investments in the production of high value plastics, it added.

The 29th Latin American Petrochemical Annual Meeting begins on Sunday and continues through Tuesday.

ICIS has launched weekly pricing reports in Africa for polyethylene and polypropylene. For more information contact Nadine Spoeri
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By: Anna Jagger
+44 20 8652 3214

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