After 665 days and nights of hard work by the Satellite Chemical team and its construction workers, the second phase of the first stage of the Lianyungang Petrochemical Olefin Comprehensive Utilization Project officially commenced operation on August 23. Following several days of commissioning and operation, it has been stably producing qualified products, achieving a safe, green, and punctual start-up. This marks the full completion and commissioning of the Lianyungang Petrochemical Olefin Comprehensive Utilization Project, making it one of the largest green and low-carbon raw material comprehensive utilization enterprises in China and laying a solid foundation for building a low-carbon chemical new materials technology-based enterprise. On August 27, Satellite Chemical Lianyungang Petrochemical held a commissioning ceremony for the olefin comprehensive utilization project in the Xuwei New Area of Lianyungang, where Ma Shiguang, Secretary of the Lianyungang Municipal Party Committee, announced the "successful commissioning of the project."
According to reports, the Lianyungang Petrochemical Project is a crucial component of Satellite Chemicals' integrated industrial layout for lightweight raw materials. The project plans to construct an annual production capacity of 1.35 million tons of PE, 2.19 million tons of EOE, and 260,000 tons of ACN, with a total investment of 33.5 billion yuan. It will provide ample raw material support for Satellite Chemicals' three major business segments: functional chemicals, new energy materials, and high-polymer new materials, and is one of Jiangsu Province's major projects. After the first phase of the Lianyungang Petrochemical Olefin Comprehensive Utilization Project is put into operation, it can convert and sell approximately 5 million tons of commodities, generating an output value of approximately 35 billion yuan.
The project adopts internationally advanced processes and technologies, filling many technological gaps in the domestic high-end new materials field. It boasts advantages such as low pollution, high conversion rate, and short process flow, and fully implements CO₂ capture and utilization, addressing energy conservation and carbon reduction from the source, process, and end-use stages. During operation, waste heat, waste pressure, and steam are utilized in a cascade manner, effectively improving the comprehensive utilization rate of resources.
"In just five years, we have fully built the largest olefin comprehensive utilization industrial project in China, which is also a significant milestone for Satellite Chemicals in building a low-carbon chemical new materials technology company," said Yang Weidong, Chairman and President of Satellite Chemicals. Upon full operation, the project will further develop an industrial cluster led by ethylene, significantly improving the self-sufficiency rate of raw materials for the high-value-added C2 new materials cluster. It will also provide strong support for the transformation and upgrading of downstream industries, playing a vital role in improving the industrial system, expanding the industrial scale, enhancing supply capacity, driving economic development, and achieving high-quality development of my country's chemical industry.
