Trinidad's National Energy Corporation Analyzes Proposal for Major Petrochemical Site

---

Español

Researched by Industrial Info Resources Latin America (Cordoba, Argentina)--The National Energy Corporation (NEC) (Point Lisas, Trinidad and Tobago) has been seeking investors in the petrochemical sector for the past few years. After an international bidding process, Saudi Basic Industries Corporation (Sabic) (Riyadh, Saudi Arabia) and China Petroleum & Chemical Corporation (NYSE:SNP) (Sinopec) (Beijing, China) received an approval for negotiations to build a major petrochemical site in Trinidad and Tobago.

Since the beginning of this year, the National Energy Corporation has been analyzing proposals for the construction of a methanol-to-olefins and a methanol-to-petrochemicals complex submitted by the consortium formed by Sabic and Sinopec. Both entities are currently negotiating the details on natural gas prices, the size and scope of the manufacturing units, the complex facilities, infrastructure and what the distribution of shares will be. A confirmation of these decisions will be announced by mid-2012.

In its early stages, the undertaking was actually planned to be executed in two independent complexes, one converting methanol to olefins and the other converting methanol to petrochemicals. After negotiations, the configuration of the undertaking changed, and the companies are now planning to construct a major petrochemical site formed by the two plants that were part of the original project. Approximately 265 million cubic feet per day will be necessary to operate the plant, which will require an investment of approximately $5 billion, according to Trinidad's newspaper. The exact configuration of the new petrochemical plant and its production units will be determined once negotiations have concluded and the selected companies proceed with the front-end engineering and design (FEED).

This major petrochemical project is important for Trinidad and Tobago to consolidate its preeminent position as the world's No. 1 methanol and ammonia exporter and global leader in the energy industry.

View Project Report - 300045708 300045874

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.