Page 4 - LatAmOil Week 39 2021
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      LatAmOil                                      COMMENTARY Y                                          LatAmOil

                                                                                                    (Photo: Braskem Idesa)
       Pemex, Braskem Idesa

       strike new ethane deals

       With the signing of a revised supply deal and plans for construction of an ethane import

       terminal, tensions between Pemex and the Brazilian-Mexican JV seem to have subsided

                         BRASKEM Idesa (BI), the Brazilian-Mexican   The joint venture signed a 20-year supply
                         joint venture that owns the Nanchital petro-  deal with Pemex in 2010, but the NOC has not
       WHAT:             chemical complex in Veracruz State, appears to   been able to uphold its obligation to provide
       Braskem Idesa and   have settled its ongoing dispute with Mexico’s   66,000 barrels per day. Now, though, the par-
       Pemex have signed two   national oil company (NOC) Pemex.  ties have revised that agreement, and as a result
       new ethane agreements.  Earlier this week, the venture said in a state-  Pemex will only be responsible for supplying
                         ment that it had reached new agreements with   30,000 bpd of ethane until BI brings its new ter-
       WHY:              Pemex concerning ethane supplies. One of   minal online.
       The JV has been at odds   these agreements concerns deliveries of ethane   The facility is due to begin operating in the
       with Pemex and Mexico’s   feedstock to Etileno XXI, a unit of the Nanchital   second half of 2024. However, Pemex has agreed
       president over the past   complex that produces ethylene and polyethyl-  to extend ethane deliveries into early 2025 if BI
                         ene, and the other covers the construction of an   encounters delays in the licensing process.
                         ethane import terminal in Laguna de Pajaritos,   Additionally, the NOC has agreed to give the
       WHAT NEXT:        a section of the port of Coatazacoalcos in Vera-  joint venture the right of first refusal for the pur-
       The ethane terminal deal
       may help BI buy time,   cruz, it reported.             chase of its surplus ethane. “[The] addendum
       pending the end of Lopez                               establishes a pre-emptive right for Braskem
       Obrador’s term in 2024.  Supply concerns               Idesa to acquire all the ethane that Pemex has
                         Together, these two deals are expected to resolve   available and does not consume in its own pro-
                         BI’s concerns about ethane deliveries to Etileno   duction process until 2045, at prices according
                         XXI.                                 to international references,” BI explained.

       P4                                       www. NEWSBASE .com                      Week 39   30•September•2021
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