Repsol and the EIB to finance the first advanced biofuels plant in Spain
The European Investment Bank ( EIB ) is providing a EUR 120 million loan to Repsol to support the construction and operation of the first advanced biofuels production plant at the company ’ s facilities in Cartagena . The plant will produce second generation and advanced biofuels from different types of waste primarily from the agri-food industry , such as used cooking oils , as part of the transition process towards a more circular economy . Construction work began in March 2022 and is scheduled for completion in the second half of 2023 . The production plant will be located within the premises of Repsol ’ s industrial complex in Cartagena . The plant will process 300,000 tons per annum ( tpa ) of lipidic residues to produce up to 250,000 tpa of 2nd generation or / and advanced biofuels for the transport sector . Speaking at the signature event in Madrid , EIB Vice President , Ricardo Mourinho Félix said : “ The EIB is committed to financing green transformation , the use of alternative energy sources and innovative research programmes across Europe . The EIB loan contributes to Repsol ’ s strategy to transform its business model and to its decarbonisation strategy .” This innovative plant will contribute to the development of low carbon fuels to be used in hard to decarbonise and hard to electrify sectors . The project is fully aligned with the European Green Deal and the Fit for 55 package and will support energy security by lowering EU dependency from fossil fuel imports .
Aramco and TotalEnergies to build Saudi petrochemical complex
Aramco and TotalEnergies have taken the final investment decision for the construction of a world scale petrochemical facility in Saudi Arabia . The ‘ Amiral ’ complex will be owned , operated , and integrated with the existing
SATORP refinery located in Jubail on Saudi Arabia ’ s eastern coast . The petrochemical facility will enable SATORP to convert internally produced refinery off-gases and naphtha , as well as ethane and natural gasoline supplied by Aramco , into higher value chemicals , helping to advance Aramco ’ s liquids to chemicals strategy . The complex will comprise of a mixed feed cracker capable of producing 1.65 million tons per annum of ethylene , the first in the region to be integrated with a refinery . It will also include two state-of-the-art polyethylene units using Advanced Dual Loop technology , a butadiene extraction unit , and other associated derivatives units . The project alone represents an investment of around EUR 10.4 billion , of which EUR 3.8 billion will be funded through equity by Aramco ( 62.5 %) and TotalEnergies ( 37.5 %). Its construction is scheduled to begin during the first quarter of 2023 with commercial operation targeted to start in 2027 . Eventually , the complex will provide feedstock to other petrochemical and specialty chemical plants , located in the Jubail industrial area , which will be built , owned and operated by globally renowned downstream investors , entailing an estimated additional EUR 3.8 billion of investments .
bp looks to further developments at Tangguh with PSC extension
The Government of Indonesia has granted a 20-year extension of the Tangguh production sharing contract ( Tangguh PSC ) to bp , operator of the PSC , and its Tangguh PSC partners . Under the agreement , the Tangguh PSC , which consists of the Berau , Muturi and Wiriagar PSCs and was due to expire in 2035 , will be extended to 2055 . The Tangguh PSC extension agreement was signed in Jakarta by Arifin Tasrif , Indonesia ’ s Energy and Mineral Resources Minister , Dwi Soetjipto , Chairman of SKK Migas ( Indonesia ’ s upstream oil & gas
Project overview
regulatory body ), Kathy Wu , bp regional president , Asia Pacific gas & low carbon energy , and representatives of the Tangguh partners . The signing was witnessed by Anja-Isabel Dotzenrath , bp executive vice president , gas & low carbon energy . The Tangguh liquefied natural gas ( LNG ) project in Papua Barat province , Indonesia , began operations in 2009 and has safely delivered more than 1,450 cargoes of LNG to both local and international markets . Its two LNG production trains have a combined liquefaction capacity of 7.6 million tonnes of LNG a year , and a third train currently under construction is expected to come online next year , increasing Tangguh ’ s production capacity by c . 50 %. Tangguh is the largest gas-producing field in Indonesia , accounting for around 20 % of the country ’ s gas output . It has generated significant revenues for Indonesia , both at national government level and in both Papua Barat province and Teluk Bintuni regency where the project is located .
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