The largest petrochemical base in China or settled in Zhanjiang

Sinopec and Kuwait’s construction of a petrochemical plant may be subject to change. According to foreign media reports, the Sino-Korean joint venture refinery site may be changed from Guangzhou Nansha to Zhanjiang.

Sinopec and Kuwait began to negotiate joint ventures in Guangzhou in 2005. According to the agreement reached, the two companies have a total investment of US$9 billion and will build China’s largest petrochemical base with a refining capacity of 15 million tons and an annual output of 1 million tons of ethylene. At the time, the preliminary consensus was that the site of the largest domestic petrochemical base was selected in the Nansha area of ​​Guangzhou.

Then the project's environmental assessment work began. In the report of the Kuwaiti News in March 2009, Kuwait was waiting for the final report on the environmental negative assessment that was announced at the end of March. It was reported that the project was of great significance to Kuwait’s response to the financial crisis and to ease the domestic political and economic situation.

Since the environmental assessment that was issued at the end of March was not disclosed to the public, it was not known to the public whether the final site was to be selected in Guangzhou. According to the high-profile attitude that the Guangzhou Municipal Government actively sought for the project, it seems that the outside world has reason to suspect that the project did not pass the environmental assessment and landed on the sidelines. On May 11, the foreign media quoted the officials of the National Energy Administration as saying that the domestic The largest petrochemical project or settled in Zhanjiang.

On the 12th, an insider of Sinopec stated that Sinopec is still struggling to find a site for the issue. Whether or not to relocate the site is not a statement. According to sources close to Kuwait, the final environmental assessment in Guangzhou Nansha failed to pass the audit.

In addition, Maoming Petrochemical in Maoming, Guangdong Province has also become an indispensable protagonist. Maoming Petrochemical is Sinopec’s largest petrochemical base in Guangdong and even in the country. If Sinopec’s petrochemical base is completed, is there a competitive relationship between the two? Zhao Xianbing, an analyst at CSCEC Petrochemical, said that “the petrochemical products are very different and the downstream products are very rich. The two factories do not necessarily have a competitive relationship.” At the same time, he believes that after the completion of the petrochemical base, it will not be effective immediately, and it will take some time to adjust. .