You are currently viewing: News



15-05-2017

Pembina Pipeline and Petrochemical Industries sign JV

Pembina Pipeline Corporation is pleased to announce that it, along with Petrochemical Industries Company K.S.C. of Kuwait, has reached key milestones for the previously announced proposed integrated propylene and polypropylene production facility in Sturgeon County, Alberta. Pembina and PIC have executed 50/50 joint venture agreements that includes binding commercial terms in support of the Project and have formed a new entity, Canada Kuwait Petrochemical Corporation. Additionally, Pembina is pleased to announce that CKPC will proceed with activities for front end engineering design for the Project. 

"The encouraging results of the recently completed feasibility study, the previously announced award of $300 million in royalty credits from the Alberta Government's Petrochemicals Diversification Program, and a Joint Venture with our world class partner, PIC, gives Pembina the confidence to further advance the Project," said Stuart Taylor, Pembina's Senior Vice President, NGL & Natural Gas Facilities. "This Project represents a material extension of our natural gas liquids value chain strategy and creates a significant incremental local market for western Canadian hydrocarbons."

"PIC is looking forward to progressing the development of this Project into FEED stage. Establishing a Joint Venture with Pembina and investing in a large-scale value-addition project will contribute to PIC's continued pursuit of sustainable and globally-diversified petrochemical growth," said Mrs. Hosnia Hashim, PIC's Deputy Chief Executive Officer, Olefins and Aromatics. "This Joint Venture between PIC and Pembina will be positioned to flourish in a competitive market with access to secure and advantaged feedstock. PIC welcomes the support of the local governments in this initiative and is looking forward to potentially expanding its asset base within Alberta."

"It's encouraging to see another milestone along the way on a project that will help diversify the type of energy products we produce here in Alberta," said Margaret McCuaig-Boyd, Alberta's Minister of Energy. "Our government is committed to creating good jobs in the industry through investments in world-class petrochemical facilities like this one."

The decision to proceed with FEED, execution of definitive Joint Venture agreements and the establishment of CKPC represent major milestones for Pembina and PIC. Deliverables of FEED include a refined capital cost estimate, a project execution plan, regulatory applications, an updated construction schedule and projected in-service date, among numerous other items. The anticipated cost of FEED is expected to represent approximately 2.0 percent to 2.5 percent of the Project's current cost estimate. FEED activities are expected to be completed by late 2018, followed by a final investment decision ("FID") from each partner.

The proposed PDH/PP Facility is expected to consume 22,000 barrels per day of Alberta-produced propane, which is expected to be sourced from Pembina's Redwater Fractionation Complex ("RFS"), as well as other regional facilities. The Project is anticipated to produce in excess of 1.2 billion pounds per year of polypropylene which would be transported to North American and global markets. Subject to required approvals and a positive FID, the Joint Venture expects to construct the PDH/PP Facility in close proximity to RFS in Sturgeon County, part of Alberta's Industrial Heartland. The preliminary capital cost estimate of the Project is $3.8 - $4.2 billion (gross).
Sponsor : 

Other News Items

MOL Group enters into a partnership with INOVACAT

MOL Group entered into a strategic partnership with INOVACAT, a Dutch technology innovator in the refining and petrochemical industries. The cooperation is expected to ...

19-06-2018

John Crane completes acquisition of Seebach GmbH

John Crane, a global leader in rotating equipment solutions, supplying engineered technologies and services to process industries, recently announced that as of June ...

19-06-2018

Velocys and PQ partner for catalyst manufacturing

Velocys plc, the renewable fuels company, is pleased to announce that it has partnered with PQ Corporation (PQ) for the supply of commercial quantities of Velocys’ ...

19-06-2018

Fluor achieves substantial engineering completion at Galveston Bay refinery

Fluor Corporation announced today that it has achieved  substantial engineering completion for Marathon Petroleum Corporation’s Tier 3 gasoline sulfur standard ...

19-06-2018

KBR announces FEED plus EPC option contract from Arkema

KBR, Inc. announced today it has been working on the Front End Engineering and Design (FEED) to double the sulfur derivatives production capacities at Arkema's Beaumont,Texas ...

19-06-2018

Emerson releases Rosemount Twisted Square Thermowell line

Emerson has released the Rosemount™ Twisted Square™ Thermowell line, a solution that reduces dynamic stress, simplifies process calculations and provides ...

18-06-2018

Anguil Environmental Systems celebrates a major milestone

Starting an environmental company in the late 1970’s was not nearly as well received as it would be today, but Gene Anguil, Founder of Anguil Environmental Systems, ...

15-06-2018

YASREF awards Jacobs general engineering services contract

Jacobs Engineering Group Inc, has been awarded a three-year, general engineering services (GES) contract from Yanbu Aramco Sinopec Refining Company Ltd. (YASREF) to help ...

14-06-2018

Siluria Technologies and Saudi Aramco join forces to maximize chemicals production

Saudi Aramco Technologies Company, a subsidiary of the world’s largest oil company, and Siluria Technologies, a leader in disruptive process technologies for the ...

13-06-2018

Clariant Catalysts collaborates with Hydrogenious Technologies

Clariant, a world leader in specialty chemicals, today announced that its Catalysts business has formed an alliance with award-winning clean energy company, Hydrogenious ...

12-06-2018