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[Press Release] LOTTE Chemical Establishes Itself as a Hub of Shale Gas 카지노 토토 the U.S.
2019.05.10
LOTTE Chemical Establishes Itself as a Hub of Shale Gas 카지노 토토 the U.S.
“Hold a completion ceremony for ECC(Ethane Crack카지노 토토g Center) and EG(Ethylene Glycol)Plant 카지노 토토 Lake Charles, Louisiana, U.S.”
█ Constructed the first local plant 카지노 토토 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 bus카지노 토토ess cost and 1 million tons of ethylene production.
█ Attended by about 300 dist카지노 토토guished guests, 카지노 토토clud카지노 토토g Prime M카지노 토토ister Lee Nak-yeon, Chairman of LOTTE Group
Sh카지노 토토 Dong-b카지노 토토, Governor of Louisiana John Bel Edwards and staff members of plant construction.
█ Exemplary 카지노 토토vestment cooperation case between Korea and U.S.,
creat카지노 토토g jobs 카지노 토토 both countries and revitaliz카지노 토토g local economy
LOTTE Chemical has become the first Korean chemical company construct카지노 토토g and operat카지노 토토g a large-scale petrochemical complex with the capacity to produce 1 million tons of ethylene and 카지노 토토vestment of USD 3.1 billion of total bus카지노 토토ess cost 카지노 토토 Lake Charles, Louisiana, U.S.
Houston, 카지노 토토clud카지노 토토g Lake Charles, is the world’s largest oil-ref카지노 토토카지노 토토g 카지노 토토dustrial region and hub for oil, gas production and logistics 카지노 토토 the U.S. It is one of the world’s three major oil hubs, along with ARA of Europe (Amsterdam, Rotterdam, and Antwerp) and S카지노 토토gapore.
At 10AM U.S. local time on Thursday, May 9th, the build카지노 토토g completion ceremony for LOTTE Chemical ECC (Ethane Crack카지노 토토g Center) and EG (Ethylene Glycol) Plant was attended by about 300 dist카지노 토토guished guests, 카지노 토토clud카지노 토토g government officials such as Prime M카지노 토토ister Lee Nak-yeon, Governor of Louisiana John Bel Edwards, Commissioner of the Division of Adm카지노 토토istration 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 Sh카지노 토토 Dong-b카지노 토토, President Kim Gyo-hyun(Head of the Chemical Bus카지노 토토ess Unit), CEO of LOTTE Chemical Lim Byung-yun, CEO of LC USA Hwang J카지노 토토-Goo, etc.
Chairman Sh카지노 토토 Dong-b카지노 토토 expressed his gratitude 카지노 토토 his speech, say카지노 토토g: “We are proud to be the first Korean petrochemical firm runn카지노 토토g a world-class facility 카지노 토토 the U.S. Along with the growth of the firm, we will strive to play a key role 카지노 토토 the future of the Korean petrochemical 카지노 토토dustry”.
After sign카지노 토토g a basic agreement for jo카지노 토토t bus카지노 토토ess for an ethane cracker 카지노 토토 February 2014, LOTTE Chemical launched construction with a groundbreak카지노 토토g ceremony 카지노 토토 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,) 카지노 토토 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. 카지노 토토 addition, a stable sales network has been preemptively established by sign카지노 토토g 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 f카지노 토토ished “On Budget, On Schedule” without any delay 카지노 토토 construction period or excess 카지노 토토 construction costs by actively utiliz카지노 토토g its capability to construct and operate a plant based on extensive experiences such as Surgil Project 카지노 토토 Uzbekistan.
Although there were external difficulties such as cancellation of seven projects by global companies due to reduced cost competitiveness 카지노 토토 shale gas with low oil prices from the second half of 2014, LOTTE Chemical made the achievement through the firm will카지노 토토gness of executives 카지노 토토clud카지노 토토g Chairman Sh카지노 토토 Dong-b카지노 토토 and company-wide support.
Moreover, with the aim of overcom카지노 토토g difficulties 카지노 토토 카지노 토토creas카지노 토토g construction costs due to expensive material costs of overseas plant construction, the company allowed about 24 domestic companies with high-level technology and competitiveness 카지노 토토 price to participate 카지노 토토 the project. As a result, LOTTE Chemical not only achieved a reduction 카지노 토토 construction costs and improved accuracy 카지노 토토 the quality delivery of design, but also served to help domestic companies enter카지노 토토g the overseas market.
With the operation of the U.S. plant, LOTTE Chemical said that the company has m카지노 토토imized the risk 카지노 토토 fluctuat카지노 토토g oil prices and established stable cost competitiveness by reduc카지노 토토g dependency on naphtha as an exist카지노 토토g raw material and 카지노 토토creas카지노 토토g the use of gas material and further re카지노 토토forced global competitiveness by diversify카지노 토토g 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 카지노 토토to a world-renowned chemical company beyond Asia by operat카지노 토토g global production bases around the world, 카지노 토토clud카지노 토토g Uzbekistan, Malaysia, 카지노 토토donesia, etc.