Dalian Ligong Safety Equipment Co.,Ltd
On March 9, 2018, COSCO Marine Energy (hereinafter referred to as COSCO), IGP Methanol Co., Ltd. (hereinafter referred to as IGP) and Jin Guotou (Dalian) Development Co., Ltd. (hereinafter referred to as “Jin Guotou”) signed “Mexican Mexico” in Shanghai. Memorandum of Understanding on the Methanol Project Cooperation. Huang Xiaowen, deputy general manager of COSCO Shipping Group, attended and witnessed the signing of the contract. COSCO Shipping Energy General Manager Liu Hanbo, IGP Methanol Co., Ltd. Chairman James S. Lamoureaux and Jinpeng Port Co., Ltd. Vice President Ning Hongpeng signed a memorandum on behalf of the three parties.
The three parties agreed to jointly develop one or two sets of methanol plants with an annual production capacity of 1.8 million tons at the IGP Methanol Co., Ltd. U.S. Gulf of Mexico methanol park to ensure that Jin Guotou plans to have a stable supply of raw materials for the MTO projects planned for Jinzhou Port. The three parties agreed to exert their advantages in their respective industry fields and eventually achieve the goal of mutual benefit and win-win outcome. The
IGP's Chairman James S. Lamoureaux said: "IGP is proud to start this project with the world-renowned transport company COSCO Group and Jin Guotou. This project produces methanol by using cheap, abundant natural gas from the United States. Providing a long-term and stable supply of methanol raw materials for China's MTO projects and alternative clean fuel markets.The construction and operation of IGP in the United States will generate thousands of jobs and billions of dollars of revenue for Louisiana and the United States Gulf of Mexico. ."
This cooperation with IGP and Jin Guotou is the key step for COSCO Marine Energy to grasp the opportunities emerging from the green energy revolution and move into the new energy transportation field. It is also an important symbol for COSCO Marine Energy to promote the transformation and upgrading of traditional businesses. Methanol as the fastest growing new energy fuel in the Chinese market can be used to replace traditional industrial boiler coal and reduce pollution emissions by 95%. At the same time, methanol is also the fastest growing low-sulfur, low-nitrogen oxide marine fuel in the international market, which can reduce 95% of PM2.5 and 99% of sulfur oxide emissions.
The three parties have the intention to study the feasibility of building a new type of energy vessel for the project and fully support the national clean energy policy and the blue sky plan.
Liaoning Jinzhou Jingang Petrochemical Co., Ltd. invested and constructed a joint project of 3.6 million tons/year of MTO and derivatives located in the Economic and Technological Development Zone of Jinzhou City, Liaoning Province. The total project investment is 37.8 billion yuan, of which the first phase of the project investment is 16.3 billion yuan. Invest 21.5 billion yuan. We look forward to cooperating with our company and providing them with bursting discs.
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