Plastic-packaging – European-gas-crisis 16-05-2022
Plastic-packaging – European-gas-crisis
German chemicals company Evonik plans to invest 8 billion euros (USD8.45 billion) by 2030 to boost growth in its smart materials, specialty additives and nutrition & care units, said Reuters.
The company, which makes ingredients for products ranging from animal feed and diapers to Pfizer/BioNTech’s COVID-19 vaccine, is restructuring to focus on high-margin and high-growth businesses. Evonik’s business in Russia will come to a standstill, CEO Christian Kullmann said. “We are deliberately letting it run down.”
Methionine, an amino acid that Evonik produces in Russia and which is used as an animal-feed additive, is now on the European Union’s embargo list, according to Kullmann.
Half of the investments are planned for Germany, Kullmann said. The money was earmarked for products that are sustainable and generate a margin on earnings before interest and tax of more than 20%. Plastic-packaging – European-gas-crisis
The group had decided to sell its 900-staff baby care business next year, and was looking for a partner or a buyer for its C4 Verbund unit, which makes components for car petrol, rubber and PVC plastic, with around 1,000 staff.
Evonik also plans to divest its production site in Luelsdorf, close to the city of Cologne, the CEO said. Evonik has around 600 employees at the chemical site.
As per MRC, Evonik, one the world’s petrochemical majors, is embarking on the next phase of its strategic transformation. Sustainability is being integrated fully and systematically into all elements of the strategy: portfolio management, innovation, corporate culture.
Braskem has agreed with Dutch recycler Terra Circular to enter a joint venture for mechanical recycling, said the company.
Financial details were not disclosed. Terra Circular, through its subsidiary ER Plastics, operates the production facilities, with nominal capacity for mechanical recycling of 23,000 tonnes/year. Plastic-packaging – European-gas-crisis
The plant is to process mixed plastic waste.
“With the agreement’s execution and once its conditions’ precedents are fulfilled, Braskem will become the controlling shareholder of the joint venture, with the possibility to expand the technology’s use to other regions. Terra Circular will transfer to the joint venture the shares in its subsidiary ER Plastics,” said Braskem.
Netherlands-based Terra Circular will provide the JV all the shares in its subsidiary ER Plastics, which has a capacity to recycle 23,000 tonnes of plastic waste per year.
As per MRC, Braskem, the largest polyolefins producer in the Americas, as well as a market leader and pioneer producer of biopolymers on an industrial scale, announces the release of three new sustainable 3D printing filament product offerings for the additive manufacturing market. These first of their kind products include 3D printing filaments produced from bio-based ethylene vinyl acetate (EVA) filament derived from raw sugarcane as well from recycled polyethylene and polypropylene (PE/PP) blended filaments with, or without, carbon fiber.
As per MRC, Lummus Technology announced a partnership with Braskem, the largest biopolymer producer in the world, to license green ethylene technology. Lummus and Braskem will license worldwide technology to produce green ethylene and accelerate the use of bioethanol for chemicals and plastics, supporting the industry’s efforts towards a carbon neutral circular economy.
The EU plans to phase out Russian crude oil imports within six months, European Commission President Ursula von der Leyen said May 4.
She added that the EU is also considering phasing out imports of Russian refined products by the end of 2022.
“Today we will propose to ban all Russian oil from Europe. This will be a complete import ban on all Russian oil, seaborne and pipeline, crude and refined,” Von der Leyen said in a speech to the European Parliament.
Europe is particularly dependent on Russian oil and was importing about 2.7 million b/d of crude and another 1.5 million b/d products, mostly diesel, before the Feb. 24 invasion. Plastic-packaging – European-gas-crisis
The conflict sparked self-sanctioning by European refiners and independent traders that has seen seaborne flows of Russia’s Urals crude, heavy fuel oil, vacuum gasoil and naphtha into the region drop.
“We will make sure that we phase out Russian oil in an orderly fashion. So in a way that allows us and our partners to secure alternative supply routes and at the same time be very careful that we minimize the impact on the global market,” she said.
S&P Global Commodity Insights expects to see a loss of nearly 3 million b/d in crude and products exports from Moscow in the coming months, as more buyers shun Russian oil.
The war in Ukraine has resulted in Russia’s key grade Urals trading at significant discounts.
The Alliance to End Plastic Waste, Singapore, and Lombard Odier Investment Managers (LOIM), Switzerland, have announced their intention to launch what they call a circular plastic fund.
The fund will aim to raise $500 million from institutional and other investors for scalable solutions to remove plastic waste from the environment, increase recycling, and drive the global transition toward a circular economy for the plastic value chain,” the Alliance says. The Alliance also says it will “serve as a cornerstone investor in the fund.” Plastic-packaging – European-gas-crisis
“Our goal in partnering with Lombard Odier in relation to a circular plastic strategy is to grow investments in solutions that can help end plastic waste and contribute to a circular economy,” says Jacob Duer, president and CEO of the Alliance. “The strategy harnesses the collective intelligence of the plastic value chain and connects it with capital, bringing much needed solutions to scale. I am confident this will help focus financial market attention on the investment opportunity that plastic circularity represents, and help to catalyze multiple sources of financing for investments in circular solutions for plastic waste.”
Pressure on Europe to secure alternative gas supplies increased on Thursday as Moscow imposed sanctions on European subsidiaries of state-owned Gazprom a day after Ukraine stopped a major gas transit route, said Hydrocarbonprocessing.
Gas prices surged, with the key European benchmark gaining 12% as buyers were unsettled by the mounting threats to Europe’s supply given its high dependence on Russia. Moscow has already cut off supply to Bulgaria and Poland and countries are racing to fill dwindling gas reserves before winter.
Russia imposed sanctions late Wednesday mainly on Gazprom’s European subsidiaries including Gazprom Germania, an energy trading, storage and transmission business that Germany placed under trusteeship last month to secure supplies. It also placed sanctions on the owner of the Polish part of the Yamal-Europe pipeline that carries Russian gas to Europe. Plastic-packaging – European-gas-crisis
Kremlin spokesperson Dmitry Peskov said there can be no relations with the companies affected nor can they take part in supplying Russian gas. The affected entities, listed on a Russian government website, are largely based in countries that have imposed sanctions on Russia in response to its invasion of Ukraine, most of them members of the European Union.
Germany, Russia’s top client in Europe, said some subsidiaries of Gazprom Germania were receiving no gas because of the sanctions. “Gazprom and its subsidiaries are affected,” German Economy Minister Robert Habeck told the Bundestag lower house. “This means some of the subsidiaries are getting no more gas from Russia. But the market is offering alternatives.”
The list also includes Germany’s biggest gas storage facility at Rehden in Lower Saxony, with 4 Bcm3 of capacity and operated by Astora, as well as Wingas, a trader which supplies industry and local utilities. Wingas has said it would continue operating but would be exposed to shortages. Rivals Uniper, VNG or RWE could be potential sources of supply to the market. Russian gas flows to Germany continue via the Nord Stream 1 pipeline under the Baltic Sea.
If sanctioned firms cannot operate, other companies such as gas utilities could take over contracts, which would likely involve agreeing new terms with Gazprom, including for payment, said Henning Gloystein, director at Eurasia Group. “This may be what Gazprom intends here, beyond also sending a retaliatory signal (for EU sanctions),” he added.
Gazprom said it would no longer be able to export gas through Poland via the Yamal-Europe pipeline after sanctions against EuRoPol Gaz, which owns the Polish section. The pipeline connects Russian gas fields in the Yamal Peninsula and Western Siberia with Poland and Germany, through Belarus, and has a 33 Bcm3 capacity, around a sixth of Russian gas exports to Europe.
-Repetable by RadiciGroup in the new Yamamay collection
On display at the Adi Design Museum in Milan “On the wave of time – Waves of fashion, history and innovation”: the history of swimwear in a path of evolution between style and sustainability.
The exhibition “Sull’Onda del tempo – Waves of fashion, history and innovation” is open to the public from 13 to 29 May in the setting of the Adi Design Museum in Milan, a project dedicated to the history of swimsuits, born from creative synergy of an Art and Design school, the Aldo Galli Academy of Como – Ied Network and the fashion company Yamamay.
Also on display are the Repetable yarns by RadiciGroup, used by Yamamay in the new sustainable proposal for beachwear: the theme of sustainability permeates the exhibition in which fabrics resulting from a long-term vision are exhibited, which can combine beauty with respect for the planet. and the sea.
Meaning of Repetable
Repetable is an innovative polyester yarn obtained through a post-consumer recycling process of plastic bottles which, compared to virgin polyester, allows to reduce CO2 emissions (-45%) and reduce water consumption (-90%) and energy (-60%), while ensuring high technical performance. It is obtained from the flakes of PET bottles through a process that helps reduce potential waste in the environment. Repetable is GRS certified, a standard that certifies the recycling process, and Oekotex, a scheme that proves the absence of substances dangerous to health.
In the conception and preparation of the exhibition, the students of the two three-year courses of Painting and visual languages and of Fashion textile design of the Aldo Galli Academy have worked in recent months to reconstruct and re-propose the history of the bathing suit, coming to create a real story where eco design represents the most contemporary element, keystone in the design of one piece and bikini made to last over time and use fewer and fewer resources from the planet.
Plastic-packaging – European-gas-crisis