Page 10 - DMEA Week 05 2022

DMEA PETROCHEMICALS DMEA

Ibn Sina certified for circular

methanol production

MIDDLE EAST SAUDI Arabia’s National Methanol Co. (Ibn economy, SABIC also unveiled plans late last
Sina) has received accreditation for circular year to achieve carbon neutrality, as it “contin-
methanol production by the International Sus- ually pursue[s] efforts and explore[s] solutions”
tainability and Carbon Certification (ISCC). to reach net zero by 2050, the date by which Ara-
The facility, a joint venture between Saudi mco has said it will reach net zero Scope 1 and
Arabia Basic Industries Corp. (SABIC), Celanese Scope 2 greenhouse gas [GHG] emissions across
and Duke Energy, is able to deliver commercial its wholly owned operated assets.
quantities of certified circular methanol using as Abdulrahman Al-Fageeh, SABIC’s executive
its feedstock CO2 captured by SABIC’s UNITED vice-president for petrochemicals, said in a state-
plant, one of the world’s largest CO2 capture and ment to press: “We are proud to have received
purification facilities. this certificate that supports SABIC’s circular
SABIC said that the “production of circular carbon economy strategies and helps our cus-
methanol reflects SABIC’s efforts toward carbon tomers meet their sustainability targets. This
emission reduction through low-carbon tech- achievement is a step forward, where SABIC will
nology, operational efficiency, CO2 utilisation continue seeking other opportunities to utilise
and innovative circular solutions”. CO2 to meet our goals of carbon neutrality.”
Ibn Sina, which is located in the Jubail Indus-
trial City in Saudi Arabia’s oil-rich Eastern Steady outlook
Province, stands to benefit from Saudi Arabia’s Speaking this week, SABIC’s CEO Yousef
development of the ‘circular carbon economy’. Al-Benyan said that he anticipated challenges
In August 2020, SABIC’s majority share- for petchems margins in 2022 despite healthy
holder Saudi Aramco announced that 30 tonnes demand.
of CO2 captured in the process of converting “We expect the same prices for petrochemi-
natural gas to hydrogen and ammonia would be cals in 2022 as in 2021 but we expect pressures on
supplied to Ibn Sina. revenues due to increase in petroleum prices and
This was part of a pilot project with the Insti- increase in feedstock costs in addition to pres-
tute of Energy Economics Japan (IEEJ), which sures on supply chains,” he said.
saw the Saudi firm send a 40-tonne consign- Al-Benyan noted that SABIC would benefit
ment of ammonia to the Asian country for use from increased feedstock availability as Saudi
in zero-carbon power generation. Arabia increased gas production and his com-
As Aramco continues to develop the circular pany uses more liquids.™

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