Sinopec Introduces INEOS to the Ethylene Project in Nangang Industrial Zone

Recently, INEOS and Sinopec signed a Joint Venture agreement that will see INEOS acquire a 50% share in the existing 1.2 mtpa Tianjin Nangang Ethylene Project which is currently under construction by SINOPEC, along with other downstream derivative projects. The agreement is an important part of the proposed integrated cooperation between the two companies in Tianjin.

The Nangang Ethylene Project is the representative project of Sinopec Tianjin Nangang high-end new materials project cluster, including a 1.2 mtpa ethylene cracker as the lead, along with 13 high-end new materials units such as α-olefin and HDPE (High-Density Polyethylene). The project is expected to come on-stream at the end of 2023.

Dr. Ma Yongsheng, Chairman of Sinopec, said “The decision is driven by our dual goals of reducing carbon emissions and managing the energy transition within our businesses, from refining all the way through petrochemicals. SINOPEC will give INEOS a significant local presence and INEOS will contribute its technological and operational expertise, which will create a win-win for the cooperative development of both companies. ”

INEOS is a global manufacturer of petrochemicals, specialty chemicals and petroleum products with 36 business segments and 194 production sites in 29 countries worldwide.