Thailand’s PTTGC to invest up to $1bn by 2030 to cut emissions

Nurluqman Suratman

21-Oct-2021

SINGAPORE (ICIS)–Thailand’s PTT Global Chemical on Thursday outlined a roadmap to achieve net zero emissions by 2050, including a plan to invest up to $1bn by 2030 to achieve its decarbonisation targets.

Along with its subsidiaries and affiliates, collectively known as GC Group, PTTGC aims to reduce current greenhouse gas emissions by 20% by 2030, the company said in a statement.

“Additionally, we plan to reduce greenhouse gases in our value chain by 50%, propelling our customers and suppliers to participate in this commitment together,” GC Group CEO Kongrapan Intarajang said.

PTTGC’s roadmap to achieving net zero emissions by 2050 consists of three core pillars – maximising efficiency across all assets, transitioning its portfolio to low-carbon businesses and implementation of “nature-based solutions” while continuing to incubate and invest in new carbon capture technologies.

The company’s US bioplastics joint venture firm Natureworks announced in August that construction of a fully-integrated biopolymer production facility in Thailand would begin in the second quarter of 2022.

PTTGC expects its 45,000 tonne/year joint venture recycled plastic resins plant in Rayong province, Thailand, to start commercial operations in the fourth quarter of this year.

The plant is expected to produce 30,000 tonnes/year of recycled polyethylene terephthalate (R-PET) and 15,000 tonnes/year of recycled high density polyethylene (R-HDPE).

The Thai petrochemical giant also has a joint venture advanced plastics project with Japan’s Kuraray that is currently building a plant in Rayong which will produce 13,000 tonnes/year of super engineering plastic polyamide 9T (PA9T) and 16,000 tonnes/year of hydrogenated styrenic block co-polymer (HSBC).

The plant is expected to start commercial operation within 2022.

In the first quarter of 2023, the company expects commercial operations to begin at its “Olefins 2 Modification project”, which will allow the company to boost propane usage as feedstock for production.

In 2019,  the group’s total refining capacity stood at 280,000 bbl/day of crude oil and condensates, with an  11.27m tonne/year petrochemical and chemical production capacity, according PTTGC’s  website.

Thumbnail photo: A PTTGC production facility (Source: PTTGC company factsheet)

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