PRODUCTS AND TECHNOLOGIES
Lummus Technology | December 03, 2021
Lummus Technology announced it has been awarded a contract from the Gazpromneft Moscow Refinery for two fired heaters. The heaters will be installed at the refinery in Moscow, and are part of the plant's modernization to improve operational efficiency and environmental performance.
"This award is a great example of how Lummus supports its customers across their capital investment and operational cycles. We are building on CLG's delayed coking technology with our advanced heater technology and supporting our partner in reliable operations to optimize light product yields, while delivering high run-length and energy efficiency at the Moscow Refinery."
Leon de Bruyn, President and Chief Executive Officer of Lummus Technology
Lummus' scope includes the design and supply of two fired heaters, adding to the delayed coking technology that CLG, a joint venture between Chevron and Lummus, provided in 2018.
Lummus' delayed coking heaters can handle a wide range of feedstocks in refineries and upgrades for both fuel and specialty coke production. Current heater designs work in cooperation with CLG's delayed coking technology and incorporate multiple cabins with single coils to deliver superior individual firing, precise temperature control and stringent air quality standards.
About Lummus Technology
Lummus Technology is the global leader in developing process technologies that make modern life possible and focus on a more sustainable, low carbon future. Lummus is a master licensor of clean energy, petrochemical, refining, gas processing and renewable technologies, and a supplier of catalysts, proprietary equipment, digitalization and related lifecycle services to customers worldwide.
About the Moscow Refinery
The Moscow Refinery is the main supplier of fuels to the Moscow region, covering 40 percent of the capital's market. The refinery has been undertaking a full-scale modernization program since 2011. Thanks to various initiatives the plant has already cut production-driven environmental impacts by 50 percent, with these expected to drop another 50 percent by 2021 once the second phase of modernization is complete.
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CHEMICAL MANAGEMENT
BKV Corporation | June 10, 2022
BKV Corporation and EnLink Midstream, LLC announced that they have reached a Phase I Final Investment Decision and entered into a definitive agreement to develop a carbon capture and sequestration project in the Barnett Shale region of North Texas.
"It is critical that companies in the industry work together to bring actionable change and move large-scale carbon reduction projects forward. This partnership brings us one step closer to the safe and profitable production of net-zero green natural gas."
BKV Chief Executive Officer Chris Kalnin
Carbon sequestration is the process of capturing and permanently storing carbon dioxide, which reduces the amount of pollutive carbon dioxide in the atmosphere. Under their agreement, BKV will continue to produce natural gas containing carbon dioxide from its Barnett Shale area operations, and EnLink will transport this natural gas via its modified pipeline and facility infrastructure to the EnLink natural gas processing plant in Bridgeport, Texas. At the Bridgeport plant, the carbon dioxide waste stream will be captured, compressed, and then disposed of through permanent sequestration via BKV's nearby injection well.
"EnLink values our partnership with BKV, and we are eager to build upon it through this sustainable CCS project," EnLink Chairman and CEO Barry E. Davis said. "The project will capture and store a significant amount of carbon dioxide emissions per year, which moves EnLink a step closer to achieving our goal of a 30 percent reduction in CO2-equivalent emissions intensity by 2030 over EnLink's 2020 scope 1 emissions intensity."
As part of its sustainability efforts, BKV recently formed dCarbon Ventures, a dedicated business unit focused on driving CCS innovations and project development. Vice President of dCarbon Ventures, Lauren Read, said, "CCS is such an important component of driving climate solutions, and I'm really excited to have a project at the Phase I FID point. We plan to be injecting carbon dioxide by the end of 2023, at which point it is expected to be one of the first permanent commercial sequestration projects to come online in the United States." Read said that this initiative is anticipated to offset BKV's current emissions by approximately 10 percent, bringing the company even closer to its goal of reaching net-zero by 2025.
Read continued, "We are doing this the BKV way—which means taking action to address our own emissions rather than achieving our goal through the purchase of offsets alone. Carbon sequestration is a fundamental element in our sustainability plans, and we expect dCarbon Ventures to be an area of significant growth for BKV."
"This investment reinforces our commitment to leading the way in the production of net-zero green natural gas," Kalnin said. "We look forward to being a pioneer in CCS and working with EnLink, and other like-minded companies, who are ready to address climate change head-on."
About BKV Corporation
Headquartered in Denver, Colorado, BKV Corporation (BKV) is a privately held natural gas exploration and production company that seeks to deliver reliable, sustainable energy to the community. Founded in 2015, BKV has over 200 employees across the U.S. that are committed to building a different kind of energy company. BKV is one of the top 20 natural gas producers in the United States and the largest natural gas producer in the Barnett Shale. BKV Corporation is the parent company for the BKV family of companies.
About EnLink Midstream
EnLink Midstream reliably operates a differentiated midstream platform that is built for long-term, sustainable value creation. EnLink's best-in-class services span the midstream value chain, providing natural gas, crude oil, condensate, and NGL capabilities, and carbon capture, transportation, and sequestration services. Our purposely built, integrated asset platforms are in premier production basins and core demand centers, including the Permian Basin, Oklahoma, North Texas, and the Gulf Coast. EnLink's strong financial foundation and commitment to execution excellence drive competitive returns and value for our employees, customers, and investors. Headquartered in Dallas, EnLink is publicly traded through EnLink Midstream, LLC.
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PRODUCTS AND TECHNOLOGIES
Westlake | November 25, 2021
Westlake Chemical Corporation, announced that it has entered into a definitive agreement with Hexion Inc. to acquire Hexion’s global epoxy business for approximately $1.2 billion. Based in Rotterdam, The Netherlands, Hexion’s epoxy business is an industry leader in the manufacture and development of specialty resins, coatings and composites for a variety of industries, including high-growth and sustainability-oriented end-uses such as wind turbine blades and light-weight automotive structural components. In the twelve months ended September 30, 2021, Hexion’s epoxy business had net sales of approximately $1.5 billion.
With this transaction, which is anticipated to be completed in the first half of 2022 following customary closing conditions, Westlake will significantly expand its integrated business by adding a downstream portfolio of coatings and composite products to its leading chloro-vinyls businesses.
“Light-weighting is a critical feature for the manufacture of structural components for automobiles and for renewable energy, particularly the composite blades used by wind turbines, and epoxies are key ingredients for these sustainable products. The industries served by Hexion Epoxy are very attractive to Westlake and the business is expected to be a synergistic addition to Westlake’s existing businesses. We look forward to welcoming the Hexion epoxy employees to the Westlake family and realizing the tremendous opportunities to grow the combined businesses.”
Westlake President and Chief Executive Officer Albert Chao
Hexion Epoxy is a global leading producer of epoxy resins, modifiers and curing agents for high-performance materials, coatings and composites. The fully-integrated business includes upstream base epoxy resins and intermediates delivered as liquid or solid epoxy resins, as well downstream specialty epoxy resins used in coatings and composites. Hexion Epoxy operates globally on three continents with eight manufacturing facilities and five research and development labs located in Asia, Europe and the United States, as well as tolling sites in Asia.
About Westlake
Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, we provide the building blocks for vital solutions — from building products and infrastructure materials, to packaging and healthcare products, to automotive and consumer goods.
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