| WTI Crude | $47.02/bbl | +0.9% |
| Brent Crude | $50.27/bbl | +0.5% |
| HH Nat Gas | $2.69/MMBtu | +5.9% |
| MB Propane | $0.60/gal | +1.5% |
| 3:2:1 Crack | $10.03/bbl | +2.0% |
Siemens and Porsche partnering to make green gasoline
German industrial giant, Siemens, and automobile manufacturer, Porsche, have announced plans to collaborate on a green hydrogen to gasoline plant on the southernmost tip of South America in Chile.
The plans:
Siemens will be using its wind turbines and electrolysis technology to produce green hydrogen from water. That hydrogen will be combined with CO2 (from DAC) and converted into methanol. The methanol will then be converted into gasoline thanks to ExxonMobil's methanol-to-gasoline technology. The pilot phase of the plant will produce 130,000 liters of fuel per year as early as 2022.
Why Chile?
Back in June, Germany agreed to set aside $10 billion for green hydrogen production. Given Germany's limited space for domestic production, the country will need to import renewable energy "in order to meet its nationwide demand". Because the southernmost tip of South America is known for its strong winds, the region is capable of producing large quantities of renewable fuels.
Read the press release here.
Mitsubishi Chemical to build new plant after closure
Japanese-based chemical company, Mitsubishi Chemical Corporation (MCC), has announced its interest in building a methyl methacrylate (MMA) plant on the land it recently purchased in Geismar, Louisiana.
Some context:
It was just last month that we saw MCC shutdown its MMA plant in Beaumont, TX. The company explained that the plant closure was done to "boost competitiveness and optimize its supply chain", but it wasn't clear what that would mean for the future of its MMA production.
So what's with the new plant?
MCC wants to build the largest MMA plant in the world with an annual capacity of 350,000 metric tons per year (the current record holder is a 250,000 metric ton per year plant). The new plant will utilize "new ethylene processes" that were developed by the company.
Read the press release here.
Air Liquide to supply O2 for pulp in Finland
Finnish cellulose producer, Metsä Fibre, and French industrial gases company, Air Liquide, have announced a preliminary agreement to build an on-site oxygen production unit at Metsä Fibre’s new bioproduct mill in Kemi, Finland.
What is Metsä Fibre doing?
The new bioproduct mill will produce "1.5 million tons of softwood and hardwood pulp per year, as well as many other bioproducts". Other bioproducts could be "tall oil, turpentine, bioelectricity, product gas, and sulphuric acid".
Why O2, and why on-site production?
Oxygen is used at pulp mills like this one for delignification and ozone generation (among other things). Building that oxygen production unit on-site allows for the delivery of large quantities of oxygen without a constant stream of delivery vehicles. By eliminating the need for delivery vehicles you checkmark both the sustainability box (fewer emissions) and the reliability box (dedicated supply).
Read the press release here.