Gulf Oil and Gas accountACCOUNT

LyondellBasell & Covestro Kick-off Circular Steam Project in Maasvlakte

Source: www.gulfoilandgas.com 9/4/2018, Location: Europe

Share |
LyondellBasell (LYB) one of the world's largest plastics, chemical and refining companies and its joint venture partner Covestro, one of the world's largest polymer companies, kicked-off a large investment project today at their site in Maasvlakte-Rotterdam, the Netherlands.

The Circular Steam Project incorporates an innovative technology into the existing production plant to convert its water-based waste into energy. The new installation will take the site's existing production process to a higher level of efficiency and sustainability, resulting in an overall annual reduction of ca. 140,000 metric tons CO2 emissions, 0.9 Petajoule of energy and avoiding the release of 11 million kilograms of salt residue into the surface water.

The project is an important contribution to the Dutch government's CO2 reduction targets. Jean Gadbois, Senior Vice President Manufacturing Europe, Asia and International of LyondellBasell: "The Dutch government's support is pivotal to the viability of innovative projects like this Circular Steam Project, which will allow us to realize an annual CO2 reduction equal to taking 31,000 cars off the road and will contribute to yearly energy savings equaling the electricity use of the city ofBreda's 90,000 households. This is a great step in advancing towards a more sustainable production."

Dr. Klaus Schaefer, Chief Technology Officer of Covestro, added: "Our joint site in Maasvlakte is an important element of Covestro´s production network. We are constantly aiming to reduce our specific emissions. Through this investment we will significantly enhance the efficiency of the existing operations."

LyondellBasell and Covestro will build a new bio plant and incinerator on the Maasvlakte site, in which the production's waste will be treated and transformed into steam. The steam will be used as an energy source in the existing on-site production plant, thus making it a circular process. The construction will employ about 71 people full-time; the new facilities will eventually provide permanent positions for 11 full-time employees. The official start of the project was marked by a ceremony in which LyondellBasell and Covestro, together with a large group of stakeholders, revealed the construction plan and its key benefits.

Allard Castelein, CEO Port of Rotterdam Authority commented: "This project is an important step towards realizing the Dutch ambition of a 49% reduction in CO2emissions in 2030. The industry in Rotterdam, being an important emitter, plays an pivotal role in this reduction. The initiative by LyondellBasell and Covestro is an inspiring example how this can be done, even in a very competitive market."

Investment News in Netherlands/Holland >>

Saudi Arabia >>  9/17/2018 - State oil giant Saudi Aramco will spend more than 500 billion riyals ($133 billion) on oil and gas drilling over the next decade, a senior company exe...
United Arab Emirates >>  9/16/2018 - The United Arab Emirates Brooge Petroleum & Gas Investment Co. plans to float 40 percent of its capital on the London Stock Exchange in October, BPGIC...

Russia >>  9/12/2018 - A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Tadashi Maeda, Governor of Japan Bank for International Coo...
Iran >>  9/9/2018 - Iranian Minister of Petroleum Bijan Zanganeh said Total was not expected to pay a fine to Iran, but the amount that the company had already spent in S...

Egypt >>  9/6/2018 - The International Islamic Trade Finance Corporation (ITFC) announced the signing of two new Agreements between ITFC & the Government of the Arab Repub...
Russia >>  9/5/2018 - The Gazprom Management Committee took note of the information about the progress of major investment projects. ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Netherlands/Holland Oil & Gas 1 >>  2 | 3 |

More News

 

Oil & Gas Companies in Netherlands/Holland >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.