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Versalis takes ground on Asia-Pacific to go global

After Petronas Rapid joint venture Versalis go to China

On April 2012, the Italian national oil company Eni decided to rename its chemical branch Polimeri Europa into Versalis.

Beyond the branding operation, Eni intends to go global with its Europe centric chemical business to benefit from the high growth in emerging countries.

In 2011, Polimeri Europa was booking 50% of it sales from Italy and 90% from Europe.

In becoming Versalis, Eni’s chemical activities defined a 2012 – 2015 Strategic Plan to reduce their reliance on the European local markets.

 – Phenol and drivatives For its overseas expansion, Versalis will focus on four core businesses where its owns licenses and innovative technologies:

 – Polyethylene (PE)

 – Styrenics

 – Elastomers

 Looking for the best regions to implement its Strategic Plan, Versalis considered the Asia-Pacific region and its fast emerging countries to promote its expertise in chemical specialties.

Being the second largest producer of elastomers in Europe among the leading manufacturers in the world because of its unique proprietary licenses, Versalis will use this know-how as the spearhead of its markets conquest in Asia.

The elastomers market in Asia is growing by 5 to 8% per year, providing Versalis opportunities to build joint ventures and partnerships with local companies.

Versalis and Petronas in joint venture for Rapid project

In July 2012, Versalis and Petronas signed a Heads of Agreement for the production of elastomers in the Petronas’s Refinery and Petrochemicals Integrated Development (Rapid) project planned in Pengerang, Johor, Malaysia.

With Rapid, Petronas is planning a $20 billion capital expenditure integrated refining and petrochemical complex inclduing 28 major production units.

The Petronas Rapid project is based on:

 – 300,000 b/d crude oil refinery capacity

 – 3 million t/y naphtha cracker to produce

 – Ethylene and polyethylene

 – Propylene and polypropylene

 – C4 and C5 olefins

 – Synthetic rubber

 – Other petrochemical

Because of the size of the Rapid complex and the number of of chemical specialties involved, Petronas is looking for 10 to 12 partners to provide Rapid with the most advanced technologies and licenses.

So far Petronas signed Heads of Agreement with Basf from Germany, Itochu Corporation (Itochu) from Japan and PTTEP from Thailand.

After signing also Heads of Agreement in July, Petronas and Versalis moved to the next step in establishing a joint venture.

Through this joint venture, Petronas and Versalis will jointly design, develop, construct and operate the production units of elastomers within the Rapid complex.

Technip in France is currently working on the front end engineering and design of Petronas Rapid project.

Versalis opens Asia-Pacific regional office in Shanghai

After a first step in Malaysia, Versalis take leap to Asia-Pacific in opening a regional office in Shanghai and establishing there two daughter companies:

 – Eni Chemicals Trading

 – Versalis Pacific Trading

As regional office, Versalis Shanghai office will cover China, Australia, Bangladesh, India, Indonesia, Japan, Malaysia, Pakistan, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand, Vietnam.

In these countries, Eni Chemicals Trading and Versalis Pacific Trading will be in charge of the

 – Direct local import and sales of Versalis chemical products

 – Technologies licensing and partnerships development.

With the world-scale elastomers production unit to come on stream on 2016 with Petronas Rapid project and to supply highly competitive feedstock, Versalis is taking ground for the trading activities in all Asia-Pacific with Eni Chemicals and Versalis Pacific to convert its European success into global Market Leadership

For more information and data about oil and gas and petrochemical projects go to Project Smart Explorer

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