Shell opens one of its largest MEG plants in Singapore

20:03, December 11, 2009      

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Global energy and petrochemicals group Shell on Friday opened its Mono-Ethylene Glycol (MEG) plant on Singapore's Jurong Island, the city state's refinery and petrochemical center.

Officiating at the plant's opening, Singapore's Minister for Trade and Industry Lim Hng Kiang said that the current economic crisis has affected the world, including Asia but business sentiment has since improved with Asia recovering faster than other regions.

This recovery is largely driven by the strong growth engines of Asian economies, particularly China, India, and the ASEAN, he said, adding that with this continued growth momentum in Asia, Singaporeis seeing more companies that are keen to grow their presence hereto serve as their strategic base to expand and grow in Asia and beyond. Singapore, located right in the heart of Asia, is well-positioned to play a critical role in partnering with the energy and chemical industry to seize the opportunities presented by the region's growing energy and chemical needs.

He also indicated that the strong industry foundations that Singapore has built up over the last decades makes it an ideal partner to companies as they pursue their next phase of growth in Asia.

He cited Shell as a great example of a company that has continued to grow from strength to strength in the region through a long history of close partnership with Singapore. Even as the Singapore energy and chemical industry has grown significantly over the past two decades, Lim outlined the positioning of the chemical industry for the next phase of growth - that Singapore is committed to widening its lead as a global chemicals hub - one that aims to couple world-class competitiveness with sustainability.

"The success of our chemical industry has been very much anchored on a seamless integration strategy. Working closely together with the industry, we have created an ecosystem that not only achieves a high level of feedstock integration, but also integration through a full spectrum of logistics and utilities services," he said.

He also stressed that Singapore is pressing ahead with investments in infrastructure to further enhance the integration of its energy and chemical industry ecosystem. It will enhance the robustness of operations on Jurong Island and optimize the use of precious resources such as energy, land, and water, even as it steps up efforts to work even more closely with companies to support innovative solutions to address environmental challenges.

The opening of this world-scale MEG plant marks yet another milestone in the Shell-Singapore partnership, he said, even as this partnership dates back to more than a century ago, from the first trading activities to the first oil refinery in Singapore.

He revealed that it is also a significant milestone in the run-up to the completion of the Shell Eastern Petrochemicals Complex (SEPC) in 2010, which when completed, will be Shell's largest integrated refinery and petrochemical center in the east.

Source:Xinhua
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