MOL
Partnership with Inovacat to commercialise “Gasolfin” technology / Strategy to boost propylene-based chemicals in central and eastern Europe
Hungarian oil and petrochemical company MOL (Budapest; www.molgroup.info) has entered into a strategic partnership with Dutch technology firm Inovacat (Amersfoort; www.inovacat.com). Under the cooperation, the companies will scale up and commercialise Inovacat’s “Gasolfin” technology, which converts naphtha into propylene, butylenes, benzene, toluene and xylene. MOL said the collaboration supports its strategic objective to diversify away from fossil-based motor fuels by 2030 and become a leading chemical company in central and eastern Europe.
“A main challenge of the MOL 2030 Strategy is to increase production of value-added products, while reducing the production of fuels over the next 15 years,” said David Pullan, vice president of MOL’s downstream technology and development group. “We are investigating technical solutions to develop our existing refining and petrochemical asset base, but we are also very interested in new technologies like Inovacat’s Gasolfin, that can potentially significantly help us meet our goal.”
In addition to supporting the next stages of development, MOL will explore different options for incorporating Gasolfin into its production facilities. The Hungarian group said the drop-in process delivers propylene yields of up to 45% depending on feedstock, can convert any light straight-run naphtha including pentanes and offers full flexibility on output without a catalyst change-over.
According to Inovacat, Gasolfin is at least 30% more energy efficient than comparable conventional processes with CO2 emissions at least 25% lower.
MOL said it is continuously looking for innovative technologies that can increase flexibility and strengthen its petrochemicals footprint. The Budapest-based company plans to raise its non-fuel production in refining from 30% of total output currently to 50% by 2030, which will be mostly achieved by increasing the transfer of feedstocks to chemicals. In order to reach its goals, MOL will invest around USD 4.5 bn (EUR 3.9 bn) into its petrochemicals business by 2030, focusing mainly on extending the propylene value chain during the next five years.
“A main challenge of the MOL 2030 Strategy is to increase production of value-added products, while reducing the production of fuels over the next 15 years,” said David Pullan, vice president of MOL’s downstream technology and development group. “We are investigating technical solutions to develop our existing refining and petrochemical asset base, but we are also very interested in new technologies like Inovacat’s Gasolfin, that can potentially significantly help us meet our goal.”
In addition to supporting the next stages of development, MOL will explore different options for incorporating Gasolfin into its production facilities. The Hungarian group said the drop-in process delivers propylene yields of up to 45% depending on feedstock, can convert any light straight-run naphtha including pentanes and offers full flexibility on output without a catalyst change-over.
According to Inovacat, Gasolfin is at least 30% more energy efficient than comparable conventional processes with CO2 emissions at least 25% lower.
MOL said it is continuously looking for innovative technologies that can increase flexibility and strengthen its petrochemicals footprint. The Budapest-based company plans to raise its non-fuel production in refining from 30% of total output currently to 50% by 2030, which will be mostly achieved by increasing the transfer of feedstocks to chemicals. In order to reach its goals, MOL will invest around USD 4.5 bn (EUR 3.9 bn) into its petrochemicals business by 2030, focusing mainly on extending the propylene value chain during the next five years.
05.07.2018 Plasteurope.com [240045-0]
Published on 05.07.2018
German version of this article...