Page 16 - AsianOil Week 28

AsianOil
NEWS IN BRIEF
AsianOil
SOUTH ASIA
GAILtoinvestin
compressedbiogasstart-
ups
In a bid to support Start-Ups operating in the area of Compressed Bio Gas (CBG), GAIL (India) Limited today announced plans to invest in such companies through its Start-Up initiative ‘Pankh’.
GAIL has opened a fresh Round for Solicitation of Investment Proposals from Start-Ups operating speci cally in the area of CBG. e Start-Ups that are interested in equity investment from GAIL
can apply on GAIL’s website gailonline.com. e SolicitationRoundisopentillJuly24,2020.
India has vast biomass resources and the Government is giving special emphasis on its utilization by encouraging setting-up of CBG plants. Further, Oil & Gas Companies are ready to give commitment for o ake of CBG through issue of Letter Of Intent (LOI). us, it provides good business opportunity to Start-Ups operating in this area.
GAIL (INDIA), July 10, 2020
HOEC re-commences operations from PY-1 field
With reference to our intimation made earlier on July 03, 2020 regarding
temporary suspension of operations
at PY-1 field in view of the COVID-19 situation in Tamil Nadu, we hereby inform that the Company has re- commenced its operations from the field. HOEC, July 14, 2020
SOUTHEAST ASIA
MISC to buy six VLECs
MISC (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochemical Co. Ltd. for the purchase of six newbuild 98,000 cubic meters Very Large Ethane Carriers (VLECs).
Concurrently, MISC, through its vessel- owning entity, Portovenere and Lerici (Singapore) Pte. Ltd. (PLS) has entered into Time Charter Parties (TCPs) with Zhejiang Satellite Petrochemical Co. Ltd. (STL) for the time charter of the six VLECs for operations in international waters.
e VLECs will be purchased by MISC for approximately USD726 million and chartered to STL through PLS for a rm period of 15 years. e charters for the VLECS are expected to commence in the fourth quarter of 2020. Samsung Heavy Industries Co., Ltd. and Hyundai Heavy Industries Co., Ltd., both shipyards in Korea, are constructing threevesselseach.
MISC, July 15, 2020
EAST ASIA
KBRawardedcontractfor
VAMcatalystbyShenghong
refining
KBR announced today that it has been awarded a catalyst supply contract for a Vinyl Acetate Monomer (VAM) project by Shenghong Refining Petrochemical (Lianyungang) Co. Ltd., China. Under the terms of the agreement, KBR will provide proprietary catalyst for Shenghong’s grassroot 300 KTA VAM unit. The unit represents the first commercial VAM technology license and engineering contract under an alliance agreement between KBR and Showa Denko K.K.(SDK).
e KBR-SDK VAM technology is backed by more than 40 years of know-how accumulated through the safe and stable operation of SDK’s ethylene based VAM unit at the Oita Petrochemical Complex
in Japan. VAM is a key intermediate for
the production of polymers and resins for adhesives, coatings, paints, lms, textiles and other products.
“ is award underscores KBR’s emerging leadership in the VAM market and strengthens our successful partnership with Shenghong,” said Doug Kelly,KBRPresident,TechnologySolutions.
KBR, July 14, 2020
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Week 28 16•July•2020