BAKU, Azerbaijan, Sept. 4
By Nargiz Sadikhova - Trend:
Tengizchevroil (TCO) and KLPE LLP will strengthen cooperation in support of the next phase of design engineering for a Gas Separation Unit (GSU), a representative of the TCO parent company – Chevron told Trend.
The official said that a corresponding agreement was signed on August 18, 2020, within the framework of Kazakhstan’s major polyethylene project.
The project’s prior investor – Borealis - decided to suspend the development of a polyethylene project in Kazakhstan in May 2020.
The company said that the decision to discontinue the project is based on a thorough assessment of all aspects of the prospective venture and impacted by the effects of the COVID-19 pandemic as well as the increased uncertainty of future market assumptions.
Now, as the GSP Design Basic Terms Agreement between KLPE and TCO was signed, a preparation of front-end engineering design (FEED) will be implemented.
The agreement will provide for a statutory basis for partnership relations between KLPE and TCO in terms of GSP design activities. FEED package will be prepared by KLPE with TCO's assistance.
“An agreement signed between TCO and KLPE LLP, a company under KazMunayGas NC JSC trust, to strengthen cooperation between the two companies in support of the next phase of design engineering for a Gas Separation Unit (GSU) as part of the RoK’s polyethylene project,” the official emphasized.
A world-scale polyethylene project oversees the development of polyethylene manufacturing integrated with an ethane cracker, in Kazakhstan.
A polyethylene plant of this scale is to be a significant step forward in creating long term, sustainable value for Kazakhstan from its petrochemical industry.
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