06 February 2012 17:41 [Source: ICIS news]
LONDON (ICIS)--Lukoil has yet to decide on the future of the long-mothballed Lukoil Neftochim petrochemical complex in Bulgaria, the Russian company said on Monday.
On 27 January, a middle management source at Lukoil Bulgaria told ICIS News that he feared the site would never be restarted because since it was shut down in the aftermath of the financial crisis of 2009-2010, its market share had been claimed by cheap imports from new capacities in the Middle East.
Responding to the anxieties, Lukoil said “the future of this complex is still being discussed, [for now] only polypropylene is produced”.
Lukoil had conceded the technological layout of the petrochemical plants made it difficult to achieve profitability.
An investor buying the complex in Burgas would need to purchase and operate all the plants because the feedstock chain meant there was a lot of inter-dependability between the units, the source said.
Besides the 80,000 tonne/year polypropylene (PP) installation, the site’s plants include a 150,000 tonne/year ethylene cracker, an 85,000 tonne/year low density polyethylene (LDPE) facility, an 80,000 tonne/year ethylene oxide (EO) plant, a 100,000 tonne/year monoethylene glycol (MEG) plant and a 10,000 tonne/year ethanolamines unit.
For more on polypropylene, LDPE and MEG visit ICIS chemical intelligence
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