Page 170 - CW E-Magazine (3-12-2024)

News from Abroad

MULTIYEAR OFFTAKE DEAL
LG Chem to source lithium from ExxonMobil for its

US cathode facility

South Korea’s LG Chem and US-
based ExxonMobil Corporation have
signed a non-binding memorandum of
understanding (MoU) for a multiyear
offtake agreement for up to 100,000 met-
ric tons of lithium carbonate. The lithi-
um will be supplied from ExxonMobil’s
planned project in the US to LG Chem’s
cathode plant in Tennessee, which LG
Chem expects to be the largest of its kind
in the U.S.
“America needs secure domestic
supply of critical minerals like lithium,”
said Mr. Dan Ammann, President of
ExxonMobil Low Carbon Solutions.
”ExxonMobil is proud to lead the way companies, holds great significance,” aligning seamlessly with Exxon-
in establishing domestic lithium pro- stated Mr. Shin Hak-cheol, CEO of LG Mobil’s core competencies in subsur-
duction, creating jobs, driving economic Chem. face exploration, drilling, and chemical
growth, and enhancing energy security in processing. This approach offers US EV
the US.” LG Chem’s Tennessee cathode Final investment decision will be battery manufacturers a domestically
plant broke ground in December 2023 subject to various factors including the extracted and processed lithium supply
and is expected to have an annual pro- establishment of commercially competi- option which is expected to have sub-
duction capacity of 60,000 tons. “Build- tive regulatory frameworks. The planned stantially lower environmental impacts,
ing a lithium supply chain with Exxon- production of Mobil lithium will utilise including approximately two-thirds less
Mobil, one of the world’s largest energy Direct Lithium Extraction (DLE) technology, carbon intensity than hard rock mining.

Samsung E&A bags ethylene storage tanks contract

in Qatar

Samsung E&A (formerly Samsung (U&O) at an industrial complex in
Engineering), a leading engineering, Ras Laffan, Qatar. The facility will
procurement, construction and project serve as a critical storage solution
management (EPC&PM) company, has for ethylene during plant mainte-
secured a significant contract with Ras nance and repair periods, ensuring
Laffan Petrochemicals (RLP) of Qatar uninterrupted supply and addressing
for the construction of ethylene storage potential emergencies.
facilities. The contract, signed on
November 14, 2024, and to be executed Samsung E&A will be responsible
in a joint venture with Taiwan’s CTCI The project is expected to span for the engineering, procurement, and
Group, is valued at approximately 34 months and will involve the construction (EPC) of key equipment,
$418-mn, with Samsung E&A’s share construction of ethylene storage including 30,000-ton storage tanks,
amounting to around $215-mn. facilities and utility infrastructure compressors, and pumps.

170 Chemical Weekly December 3, 2024

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