CSOL PERP Report - NexantThinking: The Future of …thinking.nexant.com/sites/default/files/report/field_attachment... · 44 South Broadway, White Plains, New York 10601, USA Tel:

CHEMSYSTEMS PERP PROGRAM 00101.0000.0000

2012 PROSPECTUS PROCESS EVALUATION & RESEARCH PLANNING (PERP) PROGRAM

www.chemsystems.com

44 South Broadway, White Plains, New York 10601, USA

Tel: +1 914 609 0300 Fax: +1 914 609 0399

The PERP program provides support to decision makers in the petroleum, chemical and petrochemical industries

Nexant®, ChemSystems® and ChemSystems Online® are registered trademarks of Nexant, Inc.. The Report should not be reproduced, distributed or used without first obtaining prior written consent by Nexant. Each Subscriber agrees to use reasonable effort to protect the confidential nature of the Report. Copyright © by Nexant Inc. 2013. All rights reserved.

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CHEMSYSTEMS 2012 PERP PROGRAM 00101.0000.0000

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Contents Section Page 1 Scope of the Program......................................................................................................................... 1

1.1 PETROCHEMICAL UPDATES ........................................................................................... 1

1.2 SPECIAL TOPICS ................................................................................................................ 1

1.3 PROGRAM OVERVIEW ..................................................................................................... 2

1.4 TABLE OF CONTENTS AND ABSTRACTS ..................................................................... 2

2 Value of the Program – Meeting Your Needs .................................................................................. 3

3 Content ................................................................................................................................................ 4 3.1 CHEMISTRY ........................................................................................................................ 4

3.2 PROCESS TECHNOLOGY .................................................................................................. 5

3.3 PROCESS ECONOMICS ..................................................................................................... 7

3.4 COMMERCIAL MARKETS ................................................................................................ 10

4 2012 Program - List of Topics ........................................................................................................... 11 5 Costs and Subscription ...................................................................................................................... 12

5.1 ANNUAL SUBSCRIPTION TO THE PERP PROGRAM ................................................... 12

5.2 PURCHASE OF SINGLE TOPIC PERP REPORTS ............................................................ 12

Appendix Page A Subscription Terms and Conditions ................................................................................................. A-1

B Contact Details ................................................................................................................................... B-1 C PERP Program Title Index (2002 - 2011) ........................................................................................ C-1

D Partial List of Clients ......................................................................................................................... D-1

Figure Page 3.1 Illustrative Process Chemistry ............................................................................................................. 4

3.2 Illustrative Process Chemistry II .......................................................................................................... 5

3.3 Illustrative Process Flow Diagram ....................................................................................................... 6

3.4 Illustrative Process Economics Comparison ........................................................................................ 9

3.5 Illustrative Commercial Trade ............................................................................................................. 10

Table Page 3.1 Illustrative Cost of Production Table ................................................................................................... 8

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Section 1 Scope of the Program

PERP covers twenty reports per program year: eight covering major petrochemical building blocks, intermediates and polymers and twelve covering special topics ranging in subject from biotechnology to specialty to performance materials to refinery products to engineering know-how.

Information is derived from licensors, producers, EPC contractors, and the available literature.

Reports cover existing commercial technology and new developments in the field. Emphasis is placed on technology, process economics evaluations and a review of the commercial market situation.

1.1 PETROCHEMICAL UPDATES

Petrochemical updates are designed to give up-to-date (“state-of-the-art”) information on major petrochemical building blocks, intermediates, and polymers. Update topics are reviewed on a three to five year cycle.

1.2 SPECIAL TOPICS

Special topics cover a wide variety of areas, ranging from niche markets to subjects currently considered “hot” or making grounding breaking news. Subjects are chosen based on clients’ requests and Nexant’s review/perception of the current state of affairs in the industry.

Nexant’s Process Evaluation/Research Planning (PERP) program is a multi-client service that provides, by way of periodic reports, an analysis of technological and commercial trends and developments in areas of interest to the chemical and allied industries. Our PERP program has been running for forty years and is recognized globally as the industry standard source for information relevant to the chemical process and refining industries.

The structure and scope of our PERP program is designed to provide useful information to research planning and monitoring personnel on a variety of topics, such as:

• Commodity petrochemicals and polymers

• Specialty and performance chemicals

• “Green” and biosynthetically derived products

• Oil refinery products

• Other miscellaneous topics of relevance to the chemical industry

Section 1 Scope of the Program

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Topics typically covered include:

• “Green”/biotechnology – recent examples include biosuccinic acid and bioisoprene,

• “Hot” topics – for example, international shale gas (assessing the industry’s future) and on-purpose butadiene

• Advanced materials – for example, carbon fiber and solar grade polysilicon

• Engineering – for example, project scale (lab to industrial plant implementation) and chemical energy storage

• Oil refinery products – for example, lube oil and catalytic processing of crude residue

• Specialty chemicals – for example, cyclic olefin copolymers

These reports provide a valuable insight into areas of economic value.

1.3 PROGRAM OVERVIEW

The PERP program examines existing, developing, and embryonic technologies with emphasis on:

• Chemistry

• Process design and descriptions, including process flow sheets

• Realistic, commercially-oriented economic evaluations

• Product applications; markets for new as well as established products

• Regional supply/demand forecasts

• Regional capacity listings giving owning company, plant nameplate capacities and plant locations

In addition, most of the 2012 PERP reports will cover:

• Strategic assessments/business overviews

• Regulatory/environmental issues

• Gross return on capital employed (ROCE) for the quarter analyzed (based on the prevailing published market price of the product for the quarter analyzed)

For quick referencing, an alphabetical listing of PERP topics published in the last ten years is provided in Appendix C of this prospectus.

1.4 TABLE OF CONTENTS AND ABSTRACTS

A link to the table of contents and abstracts for published PERP reports dating back to 1991 are available via the link below (alphabetical listed according to report title):

http://www.chemsystems.com/reports/index.cfm?catid=2&order=title

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Section 2 Value of the Program – Meeting Your Needs

Many types of companies, including operating companies, contractors, refiners, specialty and performance chemical manufacturers, find it essential to have reliable information available on the leading processes for making important chemicals. Our PERP program seeks to fulfill this requirement by supplying reliable data and this has been acknowledged by the industry for decades.

The combination of techno-economic process evaluations with an overview of the commercial market situation is useful in both research and business planning. Typically such information can be used by clients for:

■ PROJECT PLANNING. Understanding business feasibility or due diligence analysis

■ THIRD PARTY INDEPENDENT TECHNO-ECONOMIC EVALUATIONS Companies wishing to license new technologies and obtain independent comparison of offerings use PERP reports to help in making decisions based on commercially realistic investment cost and operating data

■ INVESTMENT OPPORTUNITIES Companies considering new investment decisions find our PERP reports helpful in the recognition and assessment of opportunities for new products and innovative processes

■ EARLY IDENTIFICATION OF COMMERCIALLY SIGNIFICANT DEVELOPMENTS An early awareness of the significance of new technological developments is key to a company's planning activities. Our PERP reports pinpoint recent developments that clients and our staff believe are important, and then place these developments in an economic context. This provides clients with a reliable and readily accessible source of data for consistent analyses of new developments.

■ PROCESS RESEARCH Determination of the potential impact of research and development (R&D) breakthroughs. Our PERP program is designed to aid effective research planning by making client companies aware technology development efforts and of the true current and future economics of new and existing processes.

■ COST EFFECTIVE It is more cost effective for us to do the work and sell to multiple clients than a client to do the work themselves.

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Section 3 Content

(Nitrobenzene Plant in China; reprinted with permission of NORAM Engineering & Construction Ltd.)

The core of a PERP report is focused on discussion of the chemistry, process design and economics of developing/emerging technologies compared with the commercially dominant technologies against which they will compete; coupled with an overview of commercial market applications and analysis of the key regional supply/demand markets.

3.1 CHEMISTRY An example of the chemistry included in PERP reports is provided in Figure 3.1, which gives an overview of the reaction between propylene and benzene.

Figure 3.1 Illustrative Process Chemistry (From PERP 09/10-4, Phenol/Acetone/Cumene, published Feb. 2012)

H3C CH2

H3C CH3H3C CH3

DIPB

CH3

CH3

H3C

H3C

TIPBCH3H3C

CH3

CH3

Benzene Propylene Cumene

acid catalyst+

acid catalyst acid catalyst

H3C CH2n

(C3H7)n

n-Propylbenzene

CH3

heavier alkylbenzenesheavier alkenes

(n-1) H3C CH2

H3C CH2 H3C CH2

The PERP program is committed to delivering reliable and commercially grounded analysis.

A typical PERP format includes an introduction where an overview of the business is given, a summary of the technology licensing status and major producers, key physical properties are outlined, and most 2012 PERP reports will give an overview of strategic considerations from the perspective of a new entrant to the business.

PERP reports involve detailed reviews of the available literature (patents, scientific and trade journals, etc.), as well as extensive liaison with industry (technology licensors, producers, EPC contractors), and Nexant know-how.

Section 3 Content

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The reaction between propylene and benzene occurs according to a Friedel-Crafts mechanism. Various acid catalysts such as aluminum chloride (AlCl3), solid phosphoric acid (SPA) and acidic zeolites have been employed in commercial operations. New plants will be expected to utilize the more efficient zeolite catalysts. The desired reaction of benzene with propylene to cumene is illustrated by the bold arrow in the figure above.

The reaction scheme shown above illustrates some of the side reactions and further products that can occur. The major byproduct is diisopropylbenzene (DIPB) which is formed when cumene is further alkylated with propylene in the same reaction vessel. Further alkylation of DIPB with propylene can occur (to a much lesser extent) resulting in triisopropylbenzene (TIPB). Even further alkylation to tetraisopropylbenzene can occur (not shown in above reaction scheme).

Other byproducts, as well as impurities in the feed are further discussed in the report (as well as the role and impact of the various catalysts on the reaction) but excluded from the discussion in this prospectus.

There is an equilibrium that exists between polyisopropylbenzenes (such as DIPB and TIPB), benzene and cumene, as illustrated in Figure 3.2 below. This equilibrium can be shifted in favor of cumene production (so called transalkylation reaction) in the presence of strong acid catalysts.

Figure 3.2 Illustrative Process Chemistry II (From the 09/10-4 Phenol/Acetone/Cumene PERP report; published Feb. 2012)

H3C

H3C

H3C CH3

H3C CH3

H3C CH3

H3C CH3

CH3H3C

CH3

CH3

TIPB

CH3

CH3

DIPB

DIPB

CH3

CH3

CumeneBenzene

2

Cumene

++

Benzene

+

3.2 PROCESS TECHNOLOGY Detailed process design descriptions augmented by process flow diagrams are provided in PERP reports.

An example of a process flow diagram for a speculative developing/alternative route to phenol by oxidation of sec-butylbenzene (SBB)/cumene to sec-butylbenzene hydroperoxide (SBBHP)/cumene hydroperoxide followed by the cleavage of these intermediates to yield phenol along with methyl ethyl ketone (MEK) and acetone co-products is illustrated in Figure 3.3 below. This process flow diagram was developed from analysis of patents to Sumitomo, Shell, and ExxonMobil.

Section 3 Content

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Section 3 Content

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3.3 PROCESS ECONOMICS

In close liaison with industry (producers, licensors, EPC contractors etc.), Nexant know-how/industry experience, review and analysis of the available literature (e.g., patents, scientific journals, etc.), product specification, etc., Nexant develops reliable and dependable assessments of the process economics for commercially established and pertinent emerging/developing technologies.

Reports published as part of the 2012 program, provide multi-regional cost of production estimates. Typical location bases for the economics would include 2 to 4 of the following:

• Brazil

• China

• East Europe

• Japan

• Middle East

• West Europe

• South East Asia

• United States Gulf Coast (USGC)

Reports published prior to the 2010 program would normally include benchmark USGC cost of production estimates.

The data in the cost of production tables in the 2012 PERP reports are in default metric units.

An example of a cost of production table is given in Table 3.1 below for production of ethylene via catalytic naphtha cracking.

Section 3 Content

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Table 3.1 Illustrative Cost of Production Table (From PERP 96/97S12, Ethylene via Catalytic Naphtha Cracking, published Oct. 1997)

PROCESS: Catalytic Pyrolysis(All Prices & Costs in U.S.dollars; Ton refers to metric ton (i.e., 1 ton = 1 000 kg)

CAPITAL COST MILLION $Plant start-up (intentionally deleted) Inside battery limits (ISBL) (intentionally deleted)Analysis date (intentionally deleted) Outisde battery limits (OSBL) (intentionally deleted)Location USGC Total Plant CapitalCapacity (intentionally Thousand tons per year Other Project Costs (intentionally deleted)

deleted) Total Capital InvestmentOperating rate 91 percent Working capital (intentionally deleted)Throughput (intentionally Thousand tons per year

deleted)UNITS PRICE ANNUAL

Per Ton $ U.S. $ COST $PRODUCTION COST SUMMARY Product /Unit Per Ton $millions Per Lb

Typical layout of Cost Table shown - all values intentionally set to zero RAW MATERIALS Light Naphtha, ton 0.0000 0.00 0.00 0.00

Catalyst & Chemicals 0.00 TOTAL RAW MATERIALS 0.00 0.00 0.00

BY-PRODUCT CREDITS Propylene - poly grade, ton 0.0000 0.00 0.00 0.00Fuel Gas, GJ 0.0000 0.00 0.00 0.00Hydrogen - reformer, Nm3 0.0000 0.00 0.00 0.00Butadiene, ton 0.0000 0.00 0.00 0.00Raffinate-1, ton 0.0000 0.00 0.00 0.00Benzene, ton 0.0000 0.00 0.00 0.00Toluene - mogas value, ton 0.0000 0.00 0.00 0.00Xylene - mogas value, ton 0.0000 0.00 0.00 0.00C9 aromatics, ton 0.0000 0.00 0.00 0.00SC Lt Fuel Oil, ton 0.0000 0.00 0.00 0.00Raffinate (Bz extraction), ton 0.0000 0.00 0.00 0.00

TOTAL BY-PRODUCT CREDITS 0.00 0.00 0.00NET RAW MATERIALS 0.00 0.00 0.00

UTILITIES Power, kWh 0.0000 0.00 0.00 0.00Cooling Water, ton 0.0000 0.00 0.00 0.00Boiler Feedwater, ton 0.0000 0.00 0.00 0.00Natural Gas, GJ 0.0000 0.00 0.00 0.00

TOTAL UTILITIES 0.00 0.00 0.00NET RAW MATERIALS & UTILITIES 0.00 0.00 0.00

VARIABLE COST 0.00 0.00 0.00

DIRECT FIXED COSTS Labor, 0 Men 0.00 Thousand $ 0.00 0.00Foremen, 0 Men 0.00 Thousand $ 0.00 0.00Super., 0 Men 0.00 Thousand $ 0.00 0.00Maint., Material & Labor 0.00 % of ISBL 0.00 0.00Direct Overhead 0 % Labor & Supervision 0.00 0.00

TOTAL DIRECT FIXED COSTS 0.00 0.00 0.00ALLOCATED FIXED COSTS General Plant Overhead 0 % Direct Fixed Costs 0.00 0.00

Insurance, Property Tax 0.0 % Total Plant Capital 0.00 0.00 TOTAL ALLOCATED FIXED COSTS 0.00 0.00 0.00

TOTAL CASH COST 0.00 0.00 0.00

Depreciation at x % for ISBL & OPC and y % for OSBL 0.00 0.00 0.00

COST OF PRODUCTION 0.00 0.00 0.00

COST OF PRODUCTION ESTIMATE FOR:ETHYLENE

Section 3 Content

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In addition to the detailed cost tables shown above, process economics are compared in PERP reports with the aid of summary tables and figures. An example of a summary process economics comparison is illustrated in the figure below (the axis detailing the actual production costs has purposely been deleted for use in this prospectus) comparing the process economics for a developing bio-route to 1,4-butanediol (BDO) with established commercial routes. The figure below is from Nexant’s 02/03-7 PERP report on BDO/THF, published in January 2004. This PERP topic is currently being updated as part of the 2012 PERP program in view of the developments in bio-routes to butanediol (direct route and via biosuccinic acid).

Figure 3.4 Illustrative Process Economics Comparison (From PERP 02/03-7, Butanediol/THF, published Jan. 2004)

-200

100

400

700

1000

Biotransformation Reppe Davy BP/Lurgi

US

Dol

lars

per

ton

Depreciation Allocated Fixed Costs Direct Fixed CostsUtilities Net Raw Materials

Section 3 Content

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3.4 COMMERCIAL MARKETS

Each PERP report contains an overview of commercial applications and discussion of regional supply/demand/trade data:

■ PERP reports include an overview of the global supply/demand situation and/or supply, demand, trade data and analysis for the regions of North America, Western Europe and Asia Pacific (supply/demand tables give historical, current estimate and forecast)

■ Detailed plant capacity tables are given detailing owning company, location, and nameplate capacities for all plants in the regions analyzed

The figure below illustrates global methyl tertiary butyl ether (MTBE) trade from PERP 99/00-7, Alternative Uses for MTBE Facilities, published in March 2001 (note that such figures have been published in color since the 2002 program).

Figure 3.5 Illustrative Commercial Trade (From PERP 99/00-7, Alternative Uses for MTBE Facilities; published March 2001)

UNITED STATES CANADA LATIN AMERICA EAST ASIA MIDEAST/AFRICA W. EUROPE

(4)

(3)

(2)

(1)

0

1

2

3

4

MIL

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1990 2000 2003 2006

M:\ENERGY\MTBE\Ozone02_2001.123

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Section 4 2012 Program - List of Topics

For a given program year, research on the selected topics begins in January of the program year and publication of the first report is typically around August of that year and the final report is typically published in April of the following year.

The list of topics in the 2012 PERP program comprises:

PETROCHEMICAL UPDATE REPORTS 2012-1 Acetic Acid

2012-2 Bisphenol A (BPA)

2012-3 1,4-Butanediol/Tetrahydrofuran (BDO/THF)

2012-4 Linear Low Density Polyethylene (LLDPE)

2012-5 Methanol

2012-6 Polyethylene Terephthalate (PET)

2012-7 Propylene Oxide

2012-8 Polyvinyl Chloride (PVC)

SPECIAL REPORTS 2012S1 Carbon Capture and Sequestration

2012S2 Isoprene/Bioisoprene

2012S3 On-Purpose Butadiene

2012S4 Project Scale Up: Lab to Industrial Plant Implementation

2012S5 International Shale Gas: Assessing the Industry’s Future

2012S6 Solar Grade Polysilicon

2012S7 Styrene Butadiene Rubber (SBR)

2012S8 Chemical Energy Storage

2012S9 Gas to Liquids

2012S10 Alternative Routes to Monoethylene Glycol (MEG)

2012S11 Isopropanol

2012S12 Dimethyl Carbonate

New clients may substitute any of the above reports with reports published in earlier program years, if they prefer. Appendix C of this prospectus gives a list of PERP reports published in the last ten years (2002-2011).

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Section 5 Costs and Subscription

PERP reports are available for purchase as single topic reports or the reports can be purchased more economically by subscription to the full program.

5.1 ANNUAL SUBSCRIPTION TO THE PERP PROGRAM

Subscription to the 2012 PERP Program is available at a cost of US$45,000. This annual subscription includes twenty (20) reports from the current program year or any earlier year. In addition, subscription to the full program includes:

■ One hard-cover bound copy of each of the reports issued during the year.

■ Unlimited downloads of soft copies of all reports are permitted at no extra cost via a password-protected area within the www.chemsystems.com website.

■ Up to sixteen hours desk-based consulting services. If travel to the client’s location is preferred, travel and living expenses, if applicable, will be reimbursed by the client at cost.

■ Special client price for previously published reports.

■ Admission for up to five of client’s employees at Nexant’s Global Petrochemical Industry training courses at a special rate, discounted from the public offering rate, to be advised by Nexant in advance of each course. Client will be responsible for all living and travel expenses of client’s attendees.

5.2 PURCHASE OF SINGLE TOPIC PERP REPORTS

Single reports from the 2012 program can be purchased for US$9,500 per report. The price includes one copy of a hard-cover bound report and unlimited downloads of the report are permitted at no extra cost via a password-protected area within the www.chemsystems.com website.

The prices of single reports from earlier program years, as well as tables of contents and abstracts for all published reports in the last twenty years can be accessed via the link below:

http://www.chemsystems.com/reports/index.cfm?catID=2

http://www.chemsystems.com/reports/index.cfm?catID=2


A-1

Appendix A Subscription Terms and Conditions

1. The undersigned (hereafter "Client") hereby subscribes to purchase from Nexant, Inc. (“Nexant”), Nexant’s ChemSystems Process Evaluation/Research Planning (PERP) Report (“the Report” or “the Report Information”), ________________, in accordance with the following terms and conditions.

2. The Report Information will be retained by Client for the sole and confidential use of Client and its 51 percent or greater owned affiliates in their own research and commercial activities, including loaning the reports on a confidential basis to third parties for temporary and specific use for the sole benefit of Client.

3. Client further agrees that it will use reasonable efforts to keep the Report Information for its sole use; however, this restriction shall not apply to information which is or becomes generally available to the public in a printed publication, which is already in the possession of Client, or which is received by Client in good faith from a third party without an obligation of confidentiality.

4. Client shall not republish any Report Information except within its own organization or that of its 51 percent or greater owned affiliates. Client further agrees to refrain from any general publication of the Report Information, either directly or through its affiliates, so as to constitute passage of title into the public domain or otherwise jeopardize common law or statutory copyright in the Program Information.

5. In consideration of the Report Information, Client will be billed by and shall pay to Nexant a total subscription fee of US$_____.00 (_____ thousand five hundred U.S. dollars). Amounts are due upon receipt of invoice and payable within thirty (30) days. Late payments shall accrue interest at the rate of 1.5% per month. Fees quoted do not include any applicable sales tax, or use or value added tax, all of which are for the account of Client.

6. Client shall receive one (1) hard-cover bound copy of the Report and access to electronic downloads of the Report via a password-protected area from www.chemsystems.com. All rights and limitations described above apply equally to hard copy and electronic versions of the reports. Additional hard-cover bound copies of this report can be obtained by Client at US$250 each.

7. Unless specified otherwise, there are no warranties of any kind for Report Information provided under this Agreement. Nexant’s total liability under this Agreement is limited to the total amount paid to Nexant for the Report Information.

8. This Agreement will be governed by the laws of the State of New York.

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B-1

Appendix B Contact Details

AMERICAS Nexant, Inc. 44 South Broadway White Plains, NY 10601-4425 U.S.A. Attention: Ms. Heidi Junker Coleman Global Programs Support Manager Tel: + 1-914-609-0381 Fax: + 1-914-609-0399 E-mail: [email protected]

EUROPE Nexant Ltd. 1 King’s Arms Yard First Floor London, EC2R 7AF United Kingdom Attention: Dr. Alexander Coker Manager, PERP Program Tel: + 44-(20)-7950-1570 Email [email protected]

ASIA Nexant Commercial Information Consulting (Shanghai) Limited 6F, The 21st Century Tower 210 Century Avenue Shanghai 200120 China Attention: Dr. Larry Song General Manager, Nexant China Tel: +86 21 5172 7360 Email: [email protected]

TOKYO Nexant, Inc. Japan Yoshida Building 7F 1-2-2 Hirakawa-cho, Chiyoda-ku Tokyo 102-0093 Japan Attention: Mr. Ko Matsushita Associate Tel: + 81-3-3237-3383 Email: [email protected]

mailto:[email protected]

mailto:[email protected]


C-1

Appendix C PERP Program Title Index (2002 - 2011)

This index is an alphabetical listing of PERP reports published in the last ten years (2002-2011). Topics not listed here may have been covered by Nexant in earlier program years. To search through a more complete listing of Nexant’s PERP reports going back to 1991, please visit www.chemsystems.com; alternatively, contact one of the individual’s listed in Appendix B of this prospectus (who are also able to provide a listing of reports dating back to 1972 if required).

Title Report Published ABS Resins 06/07S8 08/07 Acetic Acid 06/07-1 03/08 Acetic Anhydride/Cellulose Acetate 03/04S1 06/04 Acetone/Phenol/Cumene 09/10-4 02/12 Acetylene-Based VCM 05/06S4 02/07 Acetylene Production Technologies 05/06S9 04/07 Acetyls, “Green” 08/09S7 07/10 Acrylamide 01/02S10 11/02 Acrylic Acid 08/09-3 07/10 Acrylic Fiber 09/10S7 12/11 Acrylonitrile 09/10-2 11/11 Adipic Acid 08/09-2 02/10 Advances in LNG Technologies 03/04S10 10/04 Air Separation Technology 08/09S1 02/10 Algae Technology 2011S5 01/12 Alkylbenzene, Linear (LAB) 01/02S8 05/03 Alpha Olefins 06/07-5 04/08 Alternative Routes to Propylene 08/09S8 12/09 Ammonia 05/06S11 02/07 Amorphous High Temperature ETPs 03/04S12 12/04 Aniline/Nitrobenzene/MDI 2011-4 05/12 Aromatic Polyamides (Polyaramids) 06/07S9 05/08 Aromatics Production, Optimizing 05/06S6 02/07 Baby Bottle Resins, BPA-Free 08/09S6 12/09 Barrier Monomers for PET 02/03S12 12/03 Benefits of Refinery/Petrochemical Integration 06/07S7 09/07 Benzene, Styrene from Ethane and 05/06S3 11/06 Benzene/Toluene 2011-1 10/11 Biobased Commodity Feedstocks 09/10S4 02/11 Biodiesel 02/03S2 12/03 Biodiesel Production Technologies, Developments in 07/08S2 09/08 Biogasoline 05/06S1 12/06 Biomass Gasification 06/07S5 04/08 Bio Routes to para-Xylene 2011S3 03/12 Biosuccinic Acid 2011S10 05/12 Bisphenol A 06/07-7 11/07 Bottle to Bottle Recycling, PET 08/09S9 03/10 BPA-Free Baby Bottle Resins 08/09S6 12/09 Butadiene/Butylenes 09/10-5 09/10

Title Report Published Butadiene Rubber/Styrene Butadiene Rubber (SBR/BR) 02/03S1 12/03 Butanediol, 1,4-/THF 06/07-4 03/08 Butylenes/Butadiene 09/10-5 09/10 Caprolactam 09/10-1 07/11 Carbon Dioxide (CO2), Non-Sequestration Utilization Options for 09/10S10 02/12

Carbon Fiber 2011S9 05/12 Carbon Monoxide 09/10S11 12/10 Catalytic Processing of Crude Residue 09/10S6 12/11 Cellulose Acetate/Acetic Anhydride 03/04S1 06/04 Chemical and Refining Industry, Safety in the 09/10S2 05/11 Chlor-Alkali 2011-7 05/12 Coal Bed Methane 09/10S3 05/11 Coal Gasification Technologies 03/04S11 01/05 Coal Liquefaction, Direct 08/09S5 03/10 Coal to Olefins 05/06S5 04/07 Commodity Feedstocks, Biobased 09/10S4 02/11 Competing Feedstocks for VCM Production 07/08S12 01/09 Compounding, Polypropylene 04/05S6 12/05 Copolyester and Copolyamide Elastomers, Thermoplastic 02/03S9 10/03 Copolymers, Styrene Block 08/09S12 01/10 Crude Residue, Catalytic Processing of 09/10S6 11/11 Crystalline High Temperature Polymers 04/05S3 02/06 Cumene/Phenol/Acetone 09/10-4 02/12 Curtailing Coke Formation in Ethylene Furnace Tubes 02/03S10 06/03 Cyclic Olefin Copolymers 09/10S9 08/11 Developments in Biodiesel Production Technologies 07/08S2 09/08 Developments in LAO Comonomer Technologies for Polyethylene 2011S11 05/12 Developments in Non-Phosgene Polycarbonate Technology 02/03S8 10/03 Developments in Non-Phthalate Plasticizers 07/08S4 08/08 Developments in para-Xylene Technology 08/09S11 12/09 Developments in Syngas Technology 03/04S4 02/05 Developments in TDI Process Technology 07/08S9 09/08 Dimethyl Ether Technology and Markets 07/08S3 11/08 Direct Coal Liquefaction 08/09S5 03/10 EDC/VCM 03/04-6 12/04

http://www.chemsystems.com/



C-2

Title Report Published EPDM 04/05S2 05/05 Epichlorohydrin 09/10S1 08/11 Epoxy Resins 04/05S11 12/05 Elastomers, Polyolefin 05/06S7 02/07 ETBE/MTBE Update: Technical and Com- Mercal Effects of U.S. MTBE Phaseout 06/07S12 05/08 Ethane Partial Oxidation, Ethylene via Catalytic 03/04S2 07/04 Ethane and Benzene, Styrene from 05/06S3 11/06 Ethanol 08/09-6 03/10 Ethylene 08/09-5 09/09 Ethylene Dichloride/Vinyl Chloride 08/09-4 11/09 Ethylene, Gas to 08/09S10 09/09 Ethylene Oxide/Ethylene Glycol (EO/EG) 08/09-8 12/09 Formaldehyde 2011-3 05/12 Gasoline, Methanol to 2011S7 05/12 Gas Processing and NGL Extraction: Natural Gas Conditioning 04/05S8 03/06 Gas to Ethylene 08/09S10 09/09 Glycerin Conversion to Propylene Glycol 06/07S4 03/08 Glycol Ethers 01/02S6 08/02 “Green” Acetyls 08/09S7 07/10 “Green” Glycols and Polyols 09/10S8 12/10 “Green” Polyethylene 06/07S11 03/08 “Green” Propylene 07/08S11 01/09 “Green” Tires 2011S12 05/12 Heavy Oils, Unconventional 04/05S9 11/05 HDPE 09/10-3 01/11 High Density Polyethylene 09/10-3 01/11 High Temperature ETPs, Amorphous 03/04S12 12/04 High Temperature Polymers, Crystalline 04/05S3 02/06 High Temperature Thermoplastic Nylons 01/02S3 06/02 Hydrogen Peroxide 07/08-3 05/09 Hydrogen Peroxide-Based Propylene Oxide 06/07S2 12/07 Hydrogen Production in Refineries 06/07S1 10/07 Impact of Supply Chain IT Applications on The Refining Industry 04/05S4 04/06 LAO Comonomer Technologies for

Polyethylene, Developments in 2011S11 05/12

Linear Alpha Olefin Comonomer Technologies for

Polyethylene, Developments in 2011S11 05/12

LDPE 08/09-1 12/09

LDPE Copolymers, Specialty 03/04S9 12/04

Linear Alkyl Benzene (LAB) 07/08S7 01/09

Linear Alkyl Benzene (LAB) 01/02S8 05/03

Linear Low Density Polyethylene 07/08-1 10/08

LLDPE 07/08-1 10/08

Title Report Published LNG Production, Floating 07/08S10 12/08

LNG Receiving Terminals 05/06S12 01/07

LNG Technologies, Advances in 03/04S10 10/04

Low Density Polyethylene 08/09-1 12/09

Lube Oil 2011S8 05/12

Maleic Anhydride 07/08-8 02/09

MDI/Nitrobenzene/Aniline 2011-4 05/12

Medium Quality Terephthalic Acid 03/04S6 10/04

MEK/Phenol Co-Product Process 04/05S12 02/06

Methacrylate, Polymethyl 2011S2 05/12

Methane, Coal Bed 09/10S3 05/11

Methanol 07/08-2 11/08

Methanol to Gasoline 2011S7 05/12

Methyl Methacrylate (MMA) 08/09-7 03/10

Modified Polyphenylene Oxide (MPPO) 02/03S3 03/03

MTBE/ETBE Update: Technical and Com-

Mercial Effects of U.S. MTBE Phaseout 06/07S12 05/08

Natural Gas, Unconventional 08/09S3 07/09

NGL Extraction and Gas Processing:

Natural Gas Conditioning: 04/05S8 03/06

NGL Extraction Technologies 06/07S10 12/07

NGLs/Small Scale LNG, Fuel Switching with 04/05S1 08/05

Nitrobenzene/Aniline/MDI 2011-4 05/12

Non-Phosgene Polycarbonate Technology,

Developments in 02/03S8 10/03

Non-Phthalate Plasticizers, Developments in 07/08S4 08/08

Non-Sequestration Utilization Options

for Carbon Dioxide (CO2) 09/10S10 02/12

NPK Fertilizers, Phosphate and 09/10S5 11/11

Nylon 6 and Nylon 6,6 07/08S6 02/09

Nylon Fiber Spinning Technology 04/05S5 12/05

Nylons, High Temperature Thermoplastic 01/02S3 06/02

Octene-1, On-Purpose 05/06S10 04/07

Olefin Copolymers, Cyclic 09/10S9 08/11

Olefins, Coal to 05/06S5 04/07

Olefins via Enhanced FCC Processes 07/08S5 12/08

Oleochemicals 2011S6 05/12

On-Purpose Octene-1 05/06S10 04/07

Optimizing Aromatics Production 05/06S6 02/07

Oxo Alcohols 2011-2 05/12

para-Xylene, Bio Routes to 2011S3 03/12

para-Xylene Technology, Developments in 08/09S11 12/09



C-3

Title Report Published PET 07/08-5 03/09

PET Bottle to Bottle Recycling 08/09S9 03/10

PET Fiber Spinning Technology 03/04S8 08/04

PET Manufacture, Reducing Costs in 04/05S7 07/05

Phenol/Acetone/Cumene 09/10-4 02/12

Phenol/MEK Co-Product Process 04/05S12 02/06

Phosphate and NPK Fertilizers 09/10S5 11/11

Phosphoric Acid 08/09S2 04/10

Phthalic Anhydride 06/07S6 08/07

Plasticizers, Trends in 05/06S8 03/07

Plastics from Trees 201S4 03/12

PMMA 2011S2 05/12

Polyacetal (Polyoxymethylene) 2011S1 11/11

Polyaramids (Aromatic Polyamides) 06/07S9 05/08

Polybutylene Terephthalate (PBT) 07/08S1 09/08

Polycarbonate 09/10-7 12/11

Polyether Polyols 03/04S5 10/04

Polyethylene, Developments in LAO

Comonomer Technologies for 2011S11 05/12

Polyethylene, “Green” 06/07S11 03/08

Polyethylene Terephthalate (PET) 07/08-5 03/09

Polymers, Super Absorbent (SAP) 03/04S3 04/04

Polymethyl Methacrylate (PMMA) 2011S2 05/12

Polyolefin Elastomers 05/06S7 02/07

Polyols, “Green” Glycols and 09/10S8 12/10

Polyoxymethylene (POM) 2011S1 11/11

Polyphenylene Oxide, Modified (MPPO) 02/03S3 03/03

Polyphenylene Sulfide (PPS) 02/03S4 04/03

Polypropylene 2011-5 03/12

Polypropylene Compounding 04/05S6 12/05

Polypropylene, “Green” 07/08S11 01/09

Polystyrene 2011-8 05/12

Polytrimethylene Terephthalate (PTT) 01/02S7 10/02

Polyurethanes, Thermoplastic (TPUs) 02/03S7 05/03

Polyvinyl Alcohol 01/02S5 11/02

Polyvinyl Chloride (PVC) 07/08-7 09/08

POM (Polyoxymethylene) 2011S1 11/11

Production Technologies, Acetylene 05/06S9 04/07

Propylene 06/07-3 01/08

Propylene, Alternative Routes to 08/09S8 12/09

Propylene Glycol, Glycerin Conversion to 06/07S4 03/08

Propylene Oxide 07/08-6 11/08

Title Report Published Propylene Oxide, Hydrogen Peroxide-Based 06/07S2 12/07

Propylene Refineries 03/04S7 01/05

PTA (Purified Terephthalic Acid) 09/10-6 05/11

PTMEG/Spandex 01/02S11 12/02

Purified Terephthalic Acid 09/10-6 05/11

PVC 07/08-7 09/08

Receiving Terminals, LNG 05/06S12 01/07

Reducing Costs in PET Manufacture 04/05S7 07/05

Refineries, Hydrogen Production in 06/07S1 10/07

Refineries, Propylene 03/04S7 01/05

Refinery of the Future as Shaped by

Environmental Issues 02/03S11 12/03

Refinery/Petrochemical Integration,

Benefits of 06/07S7 09/07

Refining Industry, Impact of Supply

Chain IT Applications on 04/05S4 04/06

Renewable Liquids as Steam Cracker

Feedstocks 09/10S12 10/10

Safety in the Chemical and Refining Industry 09/10S2 05/11

Spandex/PTMEG 01/02S11 12/02

Specialty LDPE Copolymers 03/04S9 12/04

Stationary Fuel Cells 02/03S6 11/03

Steam Cracker Feedstocks, Fischer-

Tropsch Liquids as 01/02S9 12/02

Steam Cracker Feedstocks, Renewable

Liquids as 09/10S12 10/10

Styrene Block Copolymers 08/09S12 01/10

Styrene Butadiene Rubber/Butadiene

Rubber (SBR/BR) 02/03S1 12/03

Styrene/Ethylbenzene 07/08-4 03/09

Styrene from Ethane and Benzene 05/06S3 11/06

Sulfide, Polyphenylene (PPS) 02/03S4 04/03

Sulfuric Acid 07/08S8 12/08

Super Absorbent Polymers (SAP) 03/04S3 04/04

Supply Chain IT Applications on the

Refining Industry, Impact of 04/05S4 04/06

Syngas Technology, Developments in 03/04S4 02/05

TDI Process Technology, Developments in 07/08S9 09/08

Terephthalic Acid 09/10-6 05/11

Terephthalic Acid, Medium Quality 03/04S6 10/04 Thermoplastic Copolyester and Copolyamide Elastomers 02/03S9 10/03



C-4

Title Report Published Thermoplastic Fabrication Processes 08/09S4 03/10 Thermoplastic Polyolefin (TPO) and Vulcanizate (TPV) Elastomers 01/02S1 07/02 Thermoplastic Polyurethanes (TPUs) 02/03S7 05/03 Thermoplastic Wood Composites 05/06S2 04/07 THF/1,4-Butanediol 06/07-4 03/08 Toluene/Benzene 2011-1 10/11 Trees, Plastics from 2011S4 03/12 Trends in Plasticizers 05/06S8 03/07

Title Report Published

Unconventional Heavy Oils 04/05S9 11/05 Unconventional Natural Gas 08/09S3 07/09 Urea 06/07S3 10/07 Utilization Options for Carbon Dioxide (CO2), Non-Sequestration 09/10S10 02/12 VAM (Vinyl Acetate Monomer) 2011-6 05/12 VCM, Acetylene-Based 05/06S4 02/07 VCM/EDC 03/04-6 12/04 VCM Production, Competing Feedstocks for 07/08S12 01/09 Vinyl Acetate (VAM) 2011-6 05/12 Vinyl Chloride/Ethylene Dichloride 08/09-4 11/09 Wood Composites, Thermoplastic 05/06S2 04/07 Xylenes 09/10-8 10/10


D-1

Appendix D Partial List of Clients

Our clients represent a range of companies in the energy, chemical, plastics and process industries. Although we work primarily with manufacturers, marketers and end users, our expertise frequently is called upon by aligned businesses and organizations, such as utilities, financial institutions, engineering service firms, trade associations and national/regional governmental entities. Representative clients include:

■ Acetex ■ AKZO Nobel ■ Albemarle ■ Aramco ■ Argonne National Laboratory ■ Aristech ■ Arkema ■ Asahi Chemical ■ Ashland Chemical ■ Atofina ■ Bahrain National Gas ■ Bangkok Bank ■ Bankers Trust ■ BASF ■ Bayer ■ BOC Group ■ BP ■ Caltex ■ Campanhia Petroquimica Camacari ■ Cargill ■ CEFIC ■ Celanese ■ Chevron Phillips Chemicals ■ Chiyoda ■ Ciquine Cia Petroquimica ■ Citibank ■ Conoco ■ Copesul ■ Daicel ■ Degussa

■ Dow Chemical ■ DSM ■ DuPont ■ Dyno Industries ■ Eastman Chemical ■ Electric Power Research Institute ■ ENAP ■ Engelhard ■ EniChem ■ Enron ■ ExxonMobil ■ Fluor Daniel ■ FMC ■ Foster Wheeler ■ General Electric ■ Georgia Gulf ■ BFGoodrich ■ Grupo Ultra ■ Henkel ■ Hercules ■ Huntsman Chemical ■ Hyundai Petrochemical ■ ICI ■ Idemitsu Petrochemical ■ Indian Petrochemical Company Ltd. ■ INEOS ■ Institut Francais du Petrole ■ ISP ■ C. Itoh ■ Japan Synthetic Rubber



D-2

■ Jet Propulsion Laboratory ■ Johnson Matthey ■ Kaneka ■ Kellogg, Brown & Root ■ Kemira Oy ■ Korea Steel Chemical ■ Kosco/Daewoo ■ Kuwait Petroleum ■ Lagoven ■ Lanxess ■ Louisiana Power and Light ■ Lyondell Chemical Company ■ Maruzen ■ Makhteshim ■ Metropolitan Capital ■ Millennium ■ Mitsubishi Chemical ■ Mitsubishi Corporation ■ Mitsui Chemical ■ Monsanto ■ Morgan Guaranty Trust ■ National Energy Administration (Sweden) ■ Neste Chemicals ■ New England Electric Company ■ New York Power Authority ■ New York State Energy Research &

Development Authority ■ Nippon Petrochemical ■ Nippon Shokubai ■ Nippon Steel Chemicals ■ NL Chemicals ■ NOVA ■ Olin ■ OMV ■ Orkem ■ Pacific Gas & Electric

■ Paine Webber ■ PDVSA ■ Pequiven ■ Petrobras ■ PetroChina ■ Petrofina ■ Petroleos Mexicanos ■ Petroleum Association of Japan ■ Petroleum Authority of Thailand ■ Petroleum Energy Center ■ Petroquimica Argentina ■ Phillips Petroleum ■ Polimeri Europa, S.p.A. ■ Price Waterhouse ■ Reliance ■ Repsol ■ Rhodia ■ RTZ ■ Ruhr Oil ■ SABIC ■ Saga Petroleum ■ Sasol ■ Shaw Group ■ Shell Chemical ■ Sinopec ■ Society of Plastics Industry (SPI) ■ Solar Energy Research Institute (SERI) ■ Solutia ■ Solvay ■ Southern California Edison ■ Sterling ■ Sumitomo ■ Sunkyong Industries ■ Symyx ■ Teijin ■ Tessenderlo Chemie



D-3

■ Texaco ■ Tokyo Electric Power ■ Tonen ■ Tosoh ■ Trinidad and Tobago Oil (TRINTOC)

■ Ube ■ UCB ■ UOP ■ U.S. Department of Energy ■ Washington Group

Nexant, Inc. appears on the register of consultants of the following international lending organizations, and has conducted projects in conjunction with many of them:

■ The World Bank (IRBD, IFC and associated funds) ■ Inter-American Development Bank (IDB) ■ Asian Development Bank ■ African Development Bank ■ European Development Bank ■ Kuwait Fund ■ United Nations Industrial Development Organization (UNIDO) ■ Industrial Development Centre for Arab Studies (IDCAS) ■ British Ministry of Overseas Development (ODM) ■ USAID

Nexant, Inc. San Francisco New York Houston Washington London Frankfurt Bahrain Bangkok Shanghai Beijing Kuala Lumpur www.chemsystems.com

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