Page 4 - LatAmOil Week 39 2021

COMMENTAR
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
year.
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