Interview- Kuwaiti petchem firm says in talks to increase production abroad
08 May 2017
Kuwait’s Petrochemical Industries Co (PIC) is in talks with companies in Bahrain, South Korea and Canada to increase production abroad, its deputy CEO told Zawya last week.
PIC, a subsidiary of state-owned Kuwait Petroleum Corp, manufactures aromatics, fertilisers and olefins. It currently produces 8 million tonnes of petrochemical products annually.
“Our strategy is to expand since we target to reach 16 million tonnes by 2030 and I think it is a huge challenge,” Hosnia Hashim, PIC deputy chief executive, told Zawya on the sidelines of the GPCA Supply Chain Conference in Abu Dhabi.
She said her company is in talks with Bahrain’s National Oil and Gas Authority (NOGA) for an aromatics complex. PIC also wants to manufacture polypropylene at its South Korean unit SK Advanced, which currently produces propane dehydrogenation (PDH) and is a joint venture with the Asian country’s largest LPG importer, SK Gas, and Saudi Arabia’s Advanced Petrochemical Co.
“In Canada, we are also in negotiations with gas company Pembina and we’ll have an announcement in North America in the next few weeks,” she said.
In Kuwait, PIC has already signed a contract for its second aromatics and third olefins complex at the Al-Zour refinery, which will boost production levels.
“The project will go on stream between 2021 and 2022,” she added. “This project has been integrated with Al Zour refinery. Some of the challenges are that we can’t synchronise all of the utilities, but project management will identify the areas that can be integrated. I think there will be a lot of optimization and cost benefit.”
© Zawya 2017