两韩企将整合丽水裂解装置

Core Viewpoint - LG Chem and GS Caltex are negotiating the integration of LG Chem's steam cracking facility in Yeosu, South Korea, as part of a broader petrochemical industry restructuring plan initiated by the South Korean government [1] Group 1: Company Developments - LG Chem is considering selling its Yeosu cracking facility to GS Caltex and establishing a joint venture for its operation, contingent on reaching an agreement on valuation [1] - GS Caltex is a refining joint venture owned equally by GS Energy and Chevron, which indicates a strong backing for the proposed integration [1] Group 2: Industry Context - The South Korean government has agreed to reduce ethylene production capacity by 2.7 to 3.7 million tons per year, equivalent to shutting down 3 to 4 cracking facilities, aiming for a 25% overall reduction in national ethylene output [1] - Currently, South Korea's total ethylene capacity is approximately 13 million tons per year, primarily distributed across the Yeosu, Daesan, and Ulsan bases [1] - LG Chem has a total ethylene capacity of 3.38 million tons per year, with its No. 2 naphtha cracking facility in Yeosu likely to be shut down as part of this integration [1] - GS Caltex operates a 900,000 tons per year mixed feed cracking facility in Yeosu, which is considered more competitive due to its flexibility in processing various feedstocks [1]