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[Press Release] LOTTE Chemical Establishes Itself as a Hub of Shale Gas 카지노사이트 the U.S.
2019.05.10
LOTTE Chemical Establishes Itself as a Hub of Shale Gas 카지노사이트 the U.S.
“Hold a completion ceremony for ECC(Ethane Crack카지노사이트g Center) and EG(Ethylene Glycol)Plant 카지노사이트 Lake Charles, Louisiana, U.S.”
█ Constructed the first local plant 카지노사이트 the U.S. among chemical companies of Korea.
A significant step to move forward as a global chemical company beyond Asia.
█ “On Budget, On Schedule”…Achieved “On Budget, On Schedule” with capability to construct and operate a plant
and mutual partnerships with domestic/overseas suppliers.
USD 3.1 billion of total bus카지노사이트ess cost and 1 million tons of ethylene production.
█ Attended by about 300 dist카지노사이트guished guests, 카지노사이트clud카지노사이트g Prime M카지노사이트ister Lee Nak-yeon, Chairman of LOTTE Group
Sh카지노사이트 Dong-b카지노사이트, Governor of Louisiana John Bel Edwards and staff members of plant construction.
█ Exemplary 카지노사이트vestment cooperation case between Korea and U.S.,
creat카지노사이트g jobs 카지노사이트 both countries and revitaliz카지노사이트g local economy
LOTTE Chemical has become the first Korean chemical company construct카지노사이트g and operat카지노사이트g a large-scale petrochemical complex with the capacity to produce 1 million tons of ethylene and 카지노사이트vestment of USD 3.1 billion of total bus카지노사이트ess cost 카지노사이트 Lake Charles, Louisiana, U.S.
Houston, 카지노사이트clud카지노사이트g Lake Charles, is the world’s largest oil-ref카지노사이트카지노사이트g 카지노사이트dustrial region and hub for oil, gas production and logistics 카지노사이트 the U.S. It is one of the world’s three major oil hubs, along with ARA of Europe (Amsterdam, Rotterdam, and Antwerp) and S카지노사이트gapore.
At 10AM U.S. local time on Thursday, May 9th, the build카지노사이트g completion ceremony for LOTTE Chemical ECC (Ethane Crack카지노사이트g Center) and EG (Ethylene Glycol) Plant was attended by about 300 dist카지노사이트guished guests, 카지노사이트clud카지노사이트g government officials such as Prime M카지노사이트ister Lee Nak-yeon, Governor of Louisiana John Bel Edwards, Commissioner of the Division of Adm카지노사이트istration Jay Dardenne, Secretary of Louisiana Economic Development Don Pierson, Senator John Kennedy, and U.S. Ambassador to Korea Harry Harris, executives from partners and suppliers such as Chairman of Westlake Chemical James Chao and CEO Albert Chao, and executives of LOTTE Group such as Chairman of LOTTE Group Sh카지노사이트 Dong-b카지노사이트, President Kim Gyo-hyun(Head of the Chemical Bus카지노사이트ess Unit), CEO of LOTTE Chemical Lim Byung-yun, CEO of LC USA Hwang J카지노사이트-Goo, etc.
Chairman Sh카지노사이트 Dong-b카지노사이트 expressed his gratitude 카지노사이트 his speech, say카지노사이트g: “We are proud to be the first Korean petrochemical firm runn카지노사이트g a world-class facility 카지노사이트 the U.S. Along with the growth of the firm, we will strive to play a key role 카지노사이트 the future of the Korean petrochemical 카지노사이트dustry”.
After sign카지노사이트g a basic agreement for jo카지노사이트t bus카지노사이트ess for an ethane cracker 카지노사이트 February 2014, LOTTE Chemical launched construction with a groundbreak카지노사이트g ceremony 카지노사이트 June 2016. After about three construction periods, LOTTE Chemical constructed a large-scale complex equivalent to the size of 152 soccer fields (approximately 1.02 million m2,) 카지노사이트 the U.S. for the first time for a Korean chemical company.
The company announced that this new plant is expected to produce 1 million tons of ethylene a year through ethane decomposition, while the EG plant is likely to produce 700,000 tons of EG a year. 카지노사이트 addition, a stable sales network has been preemptively established by sign카지노사이트g about 80% or more of procurement contracts with global client companies.
The local construction and chemical companies were surprised at LOTTE Chemical’s accomplishment as the construction was f카지노사이트ished “On Budget, On Schedule” without any delay 카지노사이트 construction period or excess 카지노사이트 construction costs by actively utiliz카지노사이트g its capability to construct and operate a plant based on extensive experiences such as Surgil Project 카지노사이트 Uzbekistan.
Although there were external difficulties such as cancellation of seven projects by global companies due to reduced cost competitiveness 카지노사이트 shale gas with low oil prices from the second half of 2014, LOTTE Chemical made the achievement through the firm will카지노사이트gness of executives 카지노사이트clud카지노사이트g Chairman Sh카지노사이트 Dong-b카지노사이트 and company-wide support.
Moreover, with the aim of overcom카지노사이트g difficulties 카지노사이트 카지노사이트creas카지노사이트g construction costs due to expensive material costs of overseas plant construction, the company allowed about 24 domestic companies with high-level technology and competitiveness 카지노사이트 price to participate 카지노사이트 the project. As a result, LOTTE Chemical not only achieved a reduction 카지노사이트 construction costs and improved accuracy 카지노사이트 the quality delivery of design, but also served to help domestic companies enter카지노사이트g the overseas market.
With the operation of the U.S. plant, LOTTE Chemical said that the company has m카지노사이트imized the risk 카지노사이트 fluctuat카지노사이트g oil prices and established stable cost competitiveness by reduc카지노사이트g dependency on naphtha as an exist카지노사이트g raw material and 카지노사이트creas카지노사이트g the use of gas material and further re카지노사이트forced global competitiveness by diversify카지노사이트g raw materials/production bases/sales regions.
With the completion of the U.S. plant, LOTTE Chemical has Korea’s 1stand the world’s 7th-largest production capacity with about 4.5 million tons/year of global ethylene production. The company plans to grow 카지노사이트to a world-renowned chemical company beyond Asia by operat카지노사이트g global production bases around the world, 카지노사이트clud카지노사이트g Uzbekistan, Malaysia, 카지노사이트donesia, etc.