18-03-2024
New ASEAN Energy and ACTUAL to develop net-zero plan for the new Pengerang energy complex
New ASEAN Energy (NAE) and ACTUAL have formed an agreement, leveraging ACTUAL’s AI-driven capital planning technology to develop a comprehensive net-zero emissions strategy for The Pengerang Energy Complex (PEC).
PEC is set to be one of the world’s largest and most competitive integrated condensate splitter and aromatics facilities. Having signed over $102B USD of off-take agreements with several blue-chip energy providers, including Equinor, Chevron, PTT, and Mitsui, PEC is anticipated to have higher margins and a materially lower environmental footprint than similar plants.
PEC's outputs are strategically important for industries including textiles, bottling, housing, and pharmaceuticals. PEC is poised to set industry-leading benchmarks, achieving the lowest carbon footprint per ton of Paraxylene (PX) produced by any facility globally, thereby delivering best-in-class performance across many materials. The Agreement between NAE and ACTUAL focuses on building a scientifically and technologically credible transition plan leveraging ACTUAL’s AI-driven capital planning technology. The plan seeks to improve PEC's environmental performance further to move it towards becoming one of the first net-zero facilities globally.
Decarbonizing complex plants like PEC requires a multi-layered approach. ACTUAL and NAE plan to iteratively investigate several strategies, such as the construction of green renewable power plants for facility operations; blue and green hydrogen production; native green feedstocks for the production of sustainable aviation fuel (SAF); carbon capture technologies such as the use of mineralization or algae; alternative sources for industrial heat such as geothermal, among many others.
“ACTUAL’s technology was designed for exactly this kind of important effort — decarbonizing industries critical to our economy and resilience,” said Karthik Balakrishnan, co-founder of ACTUAL. “We are excited to collaborate with NAE to build scientifically valid capital plans that could set PEC on the path towards net zero.”
“With our focus on investing in and operating high-margin, low-carbon facilities in Southeast Asia, engaging with new and innovative ways to improve our sustainability posture is critical,” said William I.Y. Byun, CEO of NAE. “This collaboration is exciting because of the potential to show a clear, articulate pathway towards net zero for one of the premier new facilities in the region.”
News Category:
-
The progress of sustainable aviation fuel solutions for the decarbonisation of aviation
(Webinar) - As the world increasingly commits to steeper decarbonization targets, the aviation industry is determined to develop sustainable solutions to produce cost-competitive, ...
22-05-2024
-
BASF expands its biomass balance portfolio for selected chemical intermediates
BASF will expand its biomass balance offering to include BMBCertTM 1,4-butanediol (BDO), tetrahydrofuran (THF), polytetrahydrofuran (PolyTHF) and 3-(dimethylamino)propylamine ...
16-05-2024
-
NEXTCHEM completes the acquisition of German-based GasConTec
Further to the announcement made on 4 March 2024, MAIRE announces that NEXTCHEM has finalized the acquisition of 100% of GasConTec GmbH, an innovative company specialized ...
15-05-2024
-
SunGas Renewables Inc and C2X announce strategic partnership
SunGas Renewables Inc and C2X LLC today announced a strategic partnership and an investment by C2X in convertible preferred stock issued by SunGas. Together, SunGas and ...
14-05-2024
-
Neste enables Signature Aviation transition at Los Angeles International airport terminal
Enabled by its partnership with Neste, Signature Aviation, who operates the world’s largest network of business aviation terminals, is now providing only blended Neste ...
14-05-2024
-
Worley contract for Bayou Bend CCS carbon capture and storage facility
We’ve been selected to design and evaluate CO2 gathering, handling and sequestration facilities located along the Gulf Coast in Southeast Texas. Bayou Bend ...
13-05-2024
-
KBR awarded digital solutions contract by OCI Global
KBR announced today it has been awarded a contract by OCI Global to design and deploy its proprietary operator training simulator for OCI's 3,000 metric tonnes per day ...
13-05-2024
-
Singapore Airlines Group orders sustainable aviation fuel from Neste
Neste and the Singapore Airlines (SIA) Group have signed an agreement for the purchase of 1,000 tons of neat Neste MY Sustainable Aviation Fuel. This will make SIA and ...
07-05-2024
-
Hygenco to set up a green hydrogen / ammonia project at Tata Steel industrial park
Five Private Limited a pioneer in producing low-cost green hydrogen, has formally entered into a binding agreement with Tata Steel Special Economic Zone Industrial Park, ...
07-05-2024
-
TotalEnergies and Sinopec strengthen cooperation in low-carbon energies
On the occasion of the state visit to France by the President of the People's Republic of China, TotalEnergies, represented by Patrick Pouyanné, Chairman and CEO, and ...
07-05-2024