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BASF or give up investment in the United States methanol propylene project
Release time:
2015-12-11
Germany's BASF said on February 26 that the company is re-evaluating the 475000-ton methanol-to-propylene (MTP) investment project in Freeport, Texas, USA, mainly because of concerns that low oil prices may damage the competitiveness of the project. BASF CEO Kurt Bock said that the company is implementing the design of the project and will make a final investment decision in the second quarter of this year. In May 2014, BASF CEO Kurt Bock and board WayneSmith revealed for the first time at an investor conference that they would invest in a methanol-to-propylene (MTP) project in the U.S. Gulf of Mexico.
BASF announced two major projects aimed at leveraging the advantages of low-cost shale gas in the United States, a 750000-ton/year ammonia plant in Texas and a world-class propylene plant in the Gulf of Mexico.
It is reported that these two investments will account for BASF's 5-year allocation of 6.5 billion euros of capital expenditure to the chemical sector. At the same time, it is confirmed that the propylene production plant will use the methane to propylene (MTP) process route through methanol. BASF has also investigated other process routes, including propane dehydrogenation, but believes that MTP is a better choice.
BASF has selected MTP technology from France Air Luch for the project, with an annual output of 475000 tons of propylene.
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