Shell's new Singapore complex to boost downstream investments

04 May 2010 14:11  [Source: ICIS news]

SINGAPORE (ICIS news)--Shell's recent completion of its integrated oil and petrochemicals production hub in Singapore is expected to lead to a new wave of high-value downstream investments in the city-state's chemical industry, prime minister Lee Hsien Loong said on Tuesday.

The government expected the Shell Eastern Petrochemicals Complex (SEPC) to generate investments of more than Singapore dollar (S$) 2bn ($1.5bn) in fixed assets from leading chemical companies, Lee said in a speech at the official ceremony to mark the completion of the SEPC.

SEPC includes a new mixed-feed 800,000 tonne/year cracker and a 750,000 tonne/year monoethylene glycol (MEG) plant.

The project also includes modifications to Shell's Pulau Bukom Refinery, enabling it to process a wider range of crudes to supply feedstock to the cracker.

A new ethylene jetty and cryogenic terminal were also built to enable the import and export of ethylene, the company earlier said.

"This set-up enables Shell Downstream to achieve a new level of production, performance and flexibility to serve the Asian market," Lee said.

"Singapore is committed to support the growth of the energy and chemical industry," Lee said, adding that the industry's annual output of S$60bn amounts to one third of the country's overall manufacturing output.

Lee also said in the speech that the government was working with industry partners to improve the "competitiveness and sustainability" of its Jurong Island chemicals hub.

The initiative, dubbed ‘Jurong Island version 2.0’, would work on developing new technologies to save resources such as energy, carbon, water and land, Lee said.

"For example, we have schemes to tap on waste heat to power production processes and schemes to convert 'waste' CO2 into useful products, thus creating more value and reducing the carbon footprint," Lee added.

Singapore has multiple global petrochemical companies based at its Jurong Island chemicals hub, including Shell Chemicals and ExxonMobil Chemical. The city-state manufactures a variety of basic chemicals as well as polymers and specialty products.

($1 = S$1.37)

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By: Nurluqman Suratman



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