Price and market trends: Lotos, ZAT contemplating industrial-scale methanol plant in Poland

29 November 2012 18:47  [Source: ICB]

Poland-based refiner Grupa Lotos and chemical group Zaklady Azoty Tarnow (ZAT) are considering the construction of an industrial-scale methanol plant in Poland, a Lotos source said.

The installation, which would be the first production facility of that size in the country, would form part of the companies' joint-venture petrochemical complex, to be built on the grounds of Lotos' headquarters in Gdansk, he added.

SENSIBLE INVESTMENT
"Net imports of methanol into Poland stand at around 500,000 tonnes per year, so the investment would appear to make sense, though it has yet to be properly costed," the source said.

In July 2011, Poland's Zaklady Azotowe Kedzierzyn (ZAK), a ZAT subsidiary, withdrew from a joint venture for the construction of the Kedzierzyn zero-emission power and chemical complex, which would have included a 550,000 tonne/year methanol plant, citing uncertain prospects for profitability.

Polish ministers are urging Lotos to seek strategic investors to help it expand its fledgling petrochemical division. The refiner made its first move into petrochemical production in July, when it launched a 120,000 tonne/year mixed xylenes (MX) plant.


By: Will Conroy
+44 20 8652 3214



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