March 3, 2006 (Hong Kong & Guangzhou, P.R. China) – CNOOC and Shell Petrochemicals Company Limited (“CSPC”), one of the largest Sino-foreign joint ventures in China, and Basell, a global leader in polyolefins technology, production and marketing, are working together to meet the needs of the fast-growing polyolefins market in China. The companies will co-exhibit at Chinaplas 2006 from 26-29 April at the Shanghai New International Expo Centre. The CSPC/Basell booth location is W4-G13.
CSPC is a world-scale petrochemicals complex in Guangdong Province that includes three polyolefin facilities utilizing Basell state-of-the-art process technologies. The three plants have an annual total capacity of 690 KT -- 200 KT of high density and medium density polyethylene based on the Lupotech G process; 250 KT of low density polyethylene based on the Lupotech T process, and 240 KT of polypropylene based on the Spheripol process. The plants came on-stream in January.
Basell is providing sales and marketing services for the polyethylene and polypropylene resins produced at the CSPC plants for an initial period following the plants’ start-up.
“We have derived great value for Basell, CSPC and our customers in the successful pre-marketing phase,” said Charles Ng, Commercial Director of CSPC. “This cooperation will continue to form a strong synergy between CSPC’s domestic production, and Basell’s local and regional strengths in sales and marketing as well as its product and technology leadership.”
“For Basell, 2006 will be an exciting year as we expand our footprint in the key growing markets in Asia,” said Yves Bonte, Senior Vice President of Global Sales and Marketing, Basell International. “China will continue to be the driving force in demand growth for Asia and we look forward to creating the future of polyolefins together with CSPC.”
Basell also operates a wholly owned facility at Suzhou Industrial Park, producing advanced polyolefin compounds and material alloys.
The Spheripol technology produces polypropylene homopolymer, random and heterophasic copolymers; Lupotech T is a high pressure tubular reactor process for the production of LDPE and EVA copolymers, and Lupotech G is a low-pressure gasphase process for the production of HDPE and MDPE. These Basell technologies produce high-performance polyolefins for applications in markets ranging from packaging and textiles to automotive and industrial.
About Basell
Basell is the world's largest producer of polypropylene and advanced polyolefins, a leading supplier of polyethylene and polyolefin catalysts, and a global leader in the development and licensing of polypropylene and polyethylene processes. Basell, together with its joint ventures, has manufacturing operations in 21 countries and its products are sold in more than 120 countries.
The products are used by customers in the production of a wide number of consumer and industrial goods from food and beverage packaging to automobile components, and from household products to underground piping. As a technology-driven company with research and development centers located in Europe, North America and the Asia-Pacific region, Basell invests significantly in R&D to assure a sustained flow of new and enhanced polyolefin catalysts, processes and products for its customers.
More information about Basell is available on www.basell.com
About CNOOC and Shell Petrochemicals Company Limited (CSPC)
CNOOC and Shell Petrochemicals Company Limited (CSPC) is set to achieve a milestone in petrochemicals history in China, operating a USD 4.3 billion petrochemicals complex in Daya Bay, Huizhou Municipality, Guangdong Province. The complex is located at Daya Bay, about 80 kilometers north-east of Hong Kong. Additional information is available on the Internet at www.cnoocshell.com
The joint venture partners are Shell Nanhai BV, a member of the Royal Dutch/Shell Group of Companies, with a 50 per cent stake, and CNOOC Petrochemicals Investment Limited (CPIL), also 50 per cent. CPIL is 90% owned by China National Offshore Oil Corporation (CNOOC) and the remaining 10% is owned by Guangdong Guangye Investment Group Co. Ltd., an investment company authorized by the People's Government of Guangdong Province.
CSPC owns and operates the petrochemicals complex and will market the resulting product, primarily into the domestic market.
The site is an integrated chemical complex including steam and electricity generation and other utility provisions, storage and handling and shipping facilities, as well as effluent treatment and environmental protection facilities. Many of the production facilities are world-scale and all are designed to international standards.
The heart of the complex is a world-scale condensate or naphtha cracker producing 800,000 tons per year of ethylene and 430,000 tons per year of propylene, integrated with downstream units producing different kinds of products. It is one of the largest capital investments for a Sino-foreign joint venture project to date in China. In total, the complex will produce some 2.3 million ton of products. It will supply products primarily to Guangdong and the high consumption areas of China’s southeast coastal areas where demand is projected to remain strong. The plants have started up in January 2006.
For more information, contact:
Basell Asia Pacific: Kathy Chan
Tel. +852 2585 0103; +852 2585 0315; email: kathy.chan@basell.com
CNOOC and Shell Petrochemical Company Limited: HeWeiYing
Tel. 020-2239-8915; email: he.weiying@cnoocshell.com
