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  • CSPC, a Shell-CNOOC joint venture, invests in petrochemical complex expansion in China
    édité le 15/01/2025 - Plus de news de "SHELL" - Voir la fiche entreprise de "SHELL"


CSPC, a Shell-CNOOC joint venture, invests in petrochemical complex expansion in China
CNOOC and Shell Petrochemicals Company Limited (CSPC), a joint venture between Shell Nanhai B.V. and CNOOC Petrochemicals Investment Ltd, has taken a final investment decision to expand its petrochemical complex in Daya Bay, Huizhou, south China.

The expansion will include a third ethylene cracker with a planned capacity of 1.6 million tonnes per year of ethylene, a key building block to make plastics, and associated downstream derivatives units producing chemicals including linear alpha olefins.

This investment also includes a new facility which will produce 320,000 tonnes per year of high-performance specialty chemicals, such as polycarbonates and carbonate solvents, critical for everyday life.

Linear alpha olefins are used to produce detergent alcohol and synthetic lubricants base oil. Polycarbonates make impact-resistant plastics that can replace carbon-intensive steel, whilst carbonate solvents are used in lithium-ion batteries and are essential for the electric vehicles sector as well as energy storage.

The new facilities, primarily aimed at meeting domestic demand in China, will produce a range of chemicals that are widely used in the agriculture, industrial, construction, healthcare and consumer goods sectors.

This investment will contribute to CSPC’s competitiveness by extending its value chains, drive further integration with the existing site, and enable greater innovation capability to meet customer demand in the fast-growing Chinese market.

“For more than two decades, CSPC has provided high value products to the market, becoming one of the largest petrochemical joint ventures in China.” said Huibert Vigeveno, Shell’s Downstream, Renewables and Energy Solutions Director.

“This new investment is a key enabler to realise CSPC’s transformation strategy towards more premium and highly differentiated chemical products. It is consistent with Shell Chemicals & Products strategy to pursue targeted growth at advantaged locations. It also demonstrates our strong partnership with CNOOC.”

The expansion is expected to be completed in 2028.

Notes:

Established in 2000, CSPC is a 50-50 joint venture owned by Shell Nanhai B.V., a subsidiary of Shell, and CNOOC Petrochemicals Investment Limited, an affiliate of China National Offshore Oil Corporation (CNOOC). Our joint venture with CNOOC has been a high-performing strategic partnership delivering, on average, returns significantly above our hurdle rate.
CSPC Phase I started commercial operations in 2006 and Phase II started in 2018. With an annual ethylene production capacity of 2.2 million tonnes, CSPC supplies more than 6 million tonnes of high-quality chemical products to the domestic market every year.

About CNOOC

CNOOC Limited (SEHK: 00883, SSE: 600938) is a listed company on the Shanghai Stock Exchange and the Hong Kong Stock Exchange with stock codes of 600938 and 00883, respectively.
The Company is the largest producer of offshore crude oil and natural gas in China and one of the largest independent oil and gas exploration and production companies in the world. The Company mainly engages in exploration, development, production and sale of crude oil and natural gas.

About Shell plc

Shell plc is incorporated in England and Wales, has its headquarters in London and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects.


Origine : Communiqué SHELL

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