APLA ’13: Comperj petrochemical project ‘a priority’ – Braskem exec

18 November 2013 02:21 Source:ICIS News

CARTAGENA, Colombia (ICIS)--The long-awaited Comperj petrochemical project in Brazil is “a priority” for Braskem, a senior executive said on Sunday.

“We are focused on this project and it is a priority for us,” said Luciano Guidolin, executive vice president of polyolefins and renewables for Brazil-based Braskem.

Guidolin spoke to ICIS on the sidelines of the 33rd Latin American Petrochemical Association (APLA) annual meeting in Cartagena, Colombia.

“We are in conversations with Petrobras to reach an agreement on the scope and terms of raw materials. There is progress and we are working hard to find an agreement,” he added.

However, Guidolin would not give any timing for an agreement.

Natural gas liquids (NGL) feedstocks would come from Brazil’s pre-salt offshore oil and gas reserves owned by state energy company Petrobras.

“We are discussing the ‘3rd route’ – the third gas pipeline that would take the raw materials offshore to the coast. The pipeline would end at a gas processing unit at the Comperj site in Rio de Janeiro,” said Guidolin.

“We expect Brazil to have a large quantity of raw materials,” he said.

The announcement of Brazil-based industrial conglomerate Odebrecht – a significant shareholder in Braskem – that it is studying the construction of a cracker in West Virginia, US, would only help Braskem focus on the Comperj project, said Guidolin.

“As Odebrecht is organising the capital and financial structure for the US project, this allows us to pursue Comperj as our priority,” he said.

Braskem would be the operator of the Odebrecht-led cracker, he added.

By Joseph Chang