Date/Time
Date(s) - 18 January 2018
12:00 am
Categories No Categories
Kuwait, 18 January 2018 — The EQUATE Group, a global producer of petrochemicals, announced an agreement between its subsidiary, MEGlobal, and LBC Tank Terminals for the design, engineering, construction, and operation of a new terminal in Texas, USA.
The terminal will be constructed adjacent to and pipeline connected to MEGlobal’s world-scale monoethylene glycol (MEG) manufacturing plant. The process plant is to be constructed 60 miles south of Houston at MEGlobal’s new Oyster Creek site in Freeport, Texas. The terminal will be located on property owned by MEGlobal and leased to LBC Freeport LLC.
LBC Freeport will be an integrated part of MEGlobal’s supply chain, secured through a long-term contract and pipeline connection. The approximate storage capacity of the terminal is 551,000 barrels (87,460m³, 13 carbon steel lined tanks), and the main products to be handled are monoethylene glycol and diethylene glycol. The terminal is planned to be operational during 2019. Construction commenced in August 2017 upon receipt of necessary regulatory permits.
About EQUATE Group
The EQUATE Group* is a global producer of petrochemicals and the world’s second largest producer of Ethylene Glycol (EG). The Group has industrial complexes in Kuwait, North America and Europe that annually produce over 5 million tons of Ethylene, EG, Polyethylene (PE) and Polyethylene Terephthalate (PET). The products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders include Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). The Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. www.equate.com
*The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), its subsidiaries and The Kuwait Olefins Company (TKOC).
About MEGlobal
MEGlobal – an EQUATE company is a world leader in the manufacture, supply and marketing of monoethylene glycol (MEG) and diethylene glycol (DEG), collectively known as ethylene glycol (EG). MEGlobal serves customers around the world, and has production facilities in Fort Saskatchewan and Prentiss, Alberta, Canada. EG is a key raw material used in a wide variety of products and applications including the manufacture of polyester fibers, polyethylene terephthalate resins (PET), antifreeze formulations and other industrial products. MEGlobal embraces the principles of Responsible Care, ensuring that our employees, neighbors, communities and the environment are protected at all times. For more information, visit www.MEGlobal.biz
About LBC
LBC Tank Terminals owns and operates a global network of terminals at key locations in the United States, Europe and China. We are a top-tier global independent operator of bulk liquid storage facilities for petrochemicals, petroleum products and base oil products and offers loading / unloading services for all modes of transportation. Underlying the entire ethos of the company is our focus on corporate and social governance in which we strive to have a positive effect upon society and ensure that there is no such thing as a dangerous product, at least not when under our care.