Plans are being drawn up for a new petrochemical complex to be called Olefins III, according to Mohammad al-Hasawi, deputy managing director for projects at the local Petroleum Industries Company (PIC). 'We are in the initial planning stages for Olefins III,' Al-Hasawi told the third MEED New Major Project Opportunities in Kuwait conference on 15 May. 'The project will be carried out by the Dow Chemical Company/PIC joint venture.'
A final decision has still to be taken on the project, but if it goes ahead, the multi-billion-dollar scheme will utilise locally-produced associated gas. Delegates at the conference were told that 87 per cent of the state's associated gas production was flared and that plans were under way to reduce that figure to 1 per cent by 2010, freeing up the gas for other uses including petrochemicals feedstock.'We've worked hard with Kuwait Oil Company [KOC] to utilise this flared gas,' Al-Hasawi said. 'The project will not utilise gas from the recent non-associated gas discovery.'Plant configuration and product slate have yet to be determined, but the scheme is expected to be located close to the Olefins I and II complexes in the Shuaiba industrial area.Al-Hasawi also said that Equate Petrochemical Company, the PIC/Dow joint venture, was assessing three regional opportunities, including one in Egypt, although he declined to provide any further details (MEED 9:12:05).