Olefins Olefins products obtained from GC’s olefins plants consist of ethylene, propylene, butadiene, and butene-1. Thanks to their feedstock flexibility, GC’s olefins plants can make use of ethane, Propane LPG, and NGL, all of which are natural gas products, as well as LPG and light naphtha from refineries and aromatics plants. The olefins plants also yield various by-products, such as pyrolysis gasoline, mixed C4, cracker bottom, and hydrogen. GC enriches the values of these by-products with the refinery and aromatics plants. For example, pyrolysis gasoline is turned into aromatics products; or hydrogen is used in the refinery as a substitute for hydrogen produced by the Hydrogen Manufacturing Unit (HMU), which otherwise requires a higher production cost; and mixed C4 is turned into butadiene and butene-1 at the by-product value-added plant. GC also produces utilities (352 MW of electricity, 1,100 tons/hour of steam, and 3,240 cubic meters/hour of industrial water) for its own use, which reduce production costs and enhance competitiveness. Surplus volumes of the utilities are sold to Electricity Generating Authority of Thailand (EGAT) (30 MW for a duration of 25 years) as well as neighboring petrochemical plants. GC has five olefins plants, with the Olefins 2 Modification Project (OMP) commencing commercial operation to enhance flexibility in utilizing propane as feedstock, generate added value for downstream businesses, and enhance competitiveness. The total nameplate installed capacity stands at 3,829 thousand tons per year, with the details shown in the table below: Policy and Marketing GC’s policy is to build its competitiveness on par with international standards by using diverse feedstocks, controlling costs to a competitive level, and increasing business opportunities from upstream to downstream businesses to give GC stability and management options. GC’s domestic and international competitive capabilities have allowed for more agile marketing policies and increased options in selling its products, especially during times of high volatility. In addition, GC seeks to foster cooperation with companies in PTT Group, such as by sourcing quality feedstock at competitive prices and exchanging knowledge to jointly develop best practices. To give them added value, olefin products are primarily used to produce downstream petrochemical products, while the rest is sold to companies within PTT Group and domestic customers, such as HMC Polymers Co., Ltd. (HMC), AGC Vinythai Plc. (AVT), and other companies in Map Ta Phut Industrial Estate. GC’s domestic market shares for ethylene and propylene are 18% and 28% respectively. The remaining products are exported. New opportunities are also sought through collaboration within PTT Group to boost global exports. Company Product Nameplate Capacity (thousand tons per year) GC Ethylene 2,827 Propylene 902 Butadiene 75 Butene-1 25 47 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2023
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