PETALING JAYA: Singapore-based petrochemicals, green energy and natural resources conglomerate ChemOne Group, master developer of the Pengerang Energy...
ChemOne Group, the master developer of the Pengerang Energy Complex, aims to develop, operate or invest in low carbon projects. – BernamapicSingapore-based petrochemicals, green energy and natural resources conglomerate ChemOne Group, master developer of the Pengerang Energy Complex in Malaysia, will take on engineering-driven improvements including an almost 10% increase in conversion percentage from its condensate feedstocks to its higher value aromatics products.
This improved conversion efficiency also delivers a further reduction in overall carbon footprint of the PEC project, supporting ChemOne Group’s strategic vision of developing, operating or investing in low carbon project developments. This improvement comes against a background of ongoing global uncertainty which has seen general increases in project and construction costs globally, primarily due to inflationary factors and overall project development pressures. Ultimately, this improvement has allowed PEC to navigate these pressures while preserving its underlying financial fundamentals, despite an overall increase of around 9% in total project costs.
ChemOne Group’s sustainability roadmap includes the development of a potential downstream renewable fuels facility, which will utilise byproducts from PEC along with other waste products as raw materials to produce renewable fuels including sustainable aviation fuel, hydrogen, biodiesel and other biofuels.
PEC is expected to sign key agreements with industrial partners that are participating in the project following finalisation, including its joint venture with its engineering, procurement, construction and commissioning partner which is in the last stage of finalisation.
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