27 October 2010 11:33 [Source: ICIS news]
SINGAPORE (ICIS)--Malaysia’s state-owned gas major Petronas intends to build more petrochemical projects, including the ammonia and urea facilities in Borneo that are currently in advanced planning stage, a company executive said on Wednesday.
The company last went on a building spree of petrochemical facilities in the 1990s, when some 12 plants were simultaneously built to fully utilise locally produced feedstock, said Syed Mohd Kamal, head of health, safety and environment & sustainability at Petronas.
“There are already a few in the pipeline… Hopefully we['ll] have a few plants to come on stream in the next several years. Some are in the early planning stages while several needs further planning before they could be finalised,” he said, without elaborating.
Syed Mohd Kamal was speaking on the sidelines of Downstream Asia 2010, a three-day conference during the Singapore International Energy Week, which will run from 27 October to 4 November.
Apart from downstream facilities, Petronas was also looking into producing new sustainable products such as transforming palm oil into bio-base oils and bio-polyols, he added.
The Petronas executive, however, said that the major concern for new projects would be feedstock depletion.
“I would say that it is quite a challenge but management is looking into how we can arrest this issue,” he added.
Petronas has plans to do an initial public offering (IPO) of its petrochemicals business under the name Petronas Chemicals Group.
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