16 August 2013 12:31 [Source: ICIS news]
(Recasts clarifying financial impact from shutdown in paragraph one)
SINGAPORE (ICIS)--PTT Global Chemical (PTTGC) estimates a baht (Bt) 400m monthly hit to earnings from the shutdown of a gas separation unit that provides feedstock to its production facilities in Map Ta Phut, the Thai petrochemical major said late on Thursday.
“PTTGC has estimated the maximum preliminary impact to the net profit of approximately Bt400m [$12.8m] per month,” the company said in a filing to the Stock Exchange of Thailand.
Thai energy giant PTT, the parent firm of PTTGC, announced the shutdown of its gas separation unit No 5 on 14 August following a lightnight strike, adding that repair of the plant may take three to five months to complete.
PTT’s gas separation unit No 5 supplies the feedstock to PTTGC’s I-4 No 2 cracker, which has an olefins production capacity of 450,000 tonnes/year, PTTGC said.
PTTGC is trying to mitigate the loss of gas supply from the shut unit by looking for other sources, as well as by allocating natural gas – particularly ethane – among its olefins plants, the company said.
($1 = Bt31.3)
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