ExxonMobil inaugurates expansion of Singapore petrochemical facility
ExxonMobil reinforced its long-term supply commitment to the Asia-Pacific market during an event this week to celebrate the expansion of its Singapore petrochemical facility.
Global chemical demand will grow at a faster pace than GDP as people seek higher standards of living and purchase more household and packaged goods manufactured with chemical products, Rex W. Tillerson, ExxonMobil CEO, said at the inauguration event.
Two-thirds of that growth in chemical demand will be here in the Asia-Pacific region. ExxonMobils expanded Singapore chemical plant is uniquely positioned to serve these growth markets -- from China to the Indian subcontinent and beyond.
The multi-billion dollar expansion includes one of the world's largest ethylene steam crackers, two polyethylene plants, a polypropylene plant, a metallocene elastomers unit, an oxo-alcohol unit, and an aromatics expansion.
The new steam cracker will be capable of processing feedstocks from light gases to crude oil, allowing ExxonMobil to produce a broader slate of premium and commodity petrochemicals.
ExxonMobils expansion project doubled the size of its finished product capacity in Singapore, making it the largest chemical expansion in the companys history.
The Singapore chemical facility, which now accounts for about one-quarter of ExxonMobils global chemical capacity, incorporates more than 40 new proprietary technologies and is designed to be one of ExxonMobils most energy efficient and flexible sites.
For example, a new steam cracker can process an unprecedented range of feedstock, from light gases to crude oil, to produce an expanded slate of premium and commodity petrochemicals.
Tillerson noted that the foundation for the advancements at the Singapore complex were established decades ago and strengthened through the companys relationships with the people and nation of Singapore. Government leaders here wisely pursued a stable policy course that encouraged international investment, teamwork and advanced technologies, Tillerson said.
Leo Yip, chairman of the Singapore Economic Development Board, added: The official opening of ExxonMobils Singapore chemical plant expansion enhances Singapores leadership position as Asias energy and chemicals hub. This latest investment -- the single largest manufacturing investment in Singapores history -- is testament to our ability to successfully attract and execute complex mega-projects.
"The expansion of ExxonMobils chemical plant will create meaningful and exciting career opportunities for Singaporeans and also enable Singapore to broaden our chemicals industry with higher-value downstream chemical facilities," he added.
The Singapore chemical complex came on stream in 2001 and is integrated with ExxonMobil's 605,000 bpd Singapore refinery.
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