ORLEN
Plock plant expansion investment higher than estimated / Second vessel for LNG transport
 The expansion in Plock will be significantly more expensive than originally planned (Photo: Orlen) |
Orlen (Plock, Poland; www.orlen.pl) said it plans to invest PLN 25 bn (EUR 5.6 bn) for the expansion and modernisation of the polyolefin complex in Plock.
The amount is nearly twice as much as the PLN 13.5 bn it had estimated when the project was announced two years ago and approximately matches the profit it earned in 2022.
Orlen, whose official name PKN Orlen was changed on 1 July 2023, said the project will be completed in 2027. The previous estimate was of 2024.
The expansion is expected to create around 650 new jobs and slash by 30% the CO2 emissions per tonne of product. The project is in line with Orlen’s goal to become carbon neutral by 2030. By then, CO2 emissions in upstream, refining, and petrochemicals will have been cut by 25%.
Related: Orlen finalises Plock investments with Aramco
Orlen separately announced that the second vessel of the fleet of gas carriers being built for the company arrived on 30 June 2023 at the port in Świnoujście, Poland, with a cargo of around 65,000 t of liquefied natural gas (LNG) loaded at the US terminal in Freeport, Texas.
The vessel, named Grażyna Gęsicka, was built by Hyundai Heavy Industries (Ulsan, South Korea; www.english.hhi.co.kr) and measures some 300 m. Its delivery was the 30th one received by Orlen this year and the 236th one since the LNG terminal in Świnoujście was commissioned.
Related: US main LNG supplier to Europe
The amount is nearly twice as much as the PLN 13.5 bn it had estimated when the project was announced two years ago and approximately matches the profit it earned in 2022.
Orlen, whose official name PKN Orlen was changed on 1 July 2023, said the project will be completed in 2027. The previous estimate was of 2024.
The expansion is expected to create around 650 new jobs and slash by 30% the CO2 emissions per tonne of product. The project is in line with Orlen’s goal to become carbon neutral by 2030. By then, CO2 emissions in upstream, refining, and petrochemicals will have been cut by 25%.
Related: Orlen finalises Plock investments with Aramco
Orlen separately announced that the second vessel of the fleet of gas carriers being built for the company arrived on 30 June 2023 at the port in Świnoujście, Poland, with a cargo of around 65,000 t of liquefied natural gas (LNG) loaded at the US terminal in Freeport, Texas.
The vessel, named Grażyna Gęsicka, was built by Hyundai Heavy Industries (Ulsan, South Korea; www.english.hhi.co.kr) and measures some 300 m. Its delivery was the 30th one received by Orlen this year and the 236th one since the LNG terminal in Świnoujście was commissioned.
Related: US main LNG supplier to Europe
06.07.2023 Plasteurope.com [253185-0]
Published on 06.07.2023
German version of this article...