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©2013 KBR, Inc. All Rights Reserved 1
KBR Technology Business Tanya Niu ------ Director, Chemicals
2013 Ethane to Ethylene Global Summit, Houston, TX Oct 30th
©2013 KBR, Inc. All Rights Reserved 2
KBR Technology Portfolio
Refining ROSE
Visbreaking
Hydrocracking
Hydrotreating
Olefins Catalytic Olefins
SCORE
Chemicals
Ammonia and Syngas
Phenol Advanced TransAlkylation Parafin Olefin Separation C4 Acetylene Converter
Power applications Industrial applications
Advanced Chemical Engineering
OTS
OMS
Technical Services
Proprietary Equipment
Refining
Coal Monetization
Olefins
Chemicals
Ammonia and Syngas
Ammonia
Fertilizers
Syngas
Hydrogen
Coal Monetization FCC
VCC
©2013 KBR, Inc. All Rights Reserved 3
Capabilities
Providing Technology since 1986
More than 30 percent of global greenfield ethylene capacity
Catalytic Olefins Flexible light hydrocarbon feed
Achievable P:E Ratio 1:1 to 2:1
Olefins
©2013 KBR, Inc. All Rights Reserved 4
Shale Gas Boom Brings Surplus NGL
Ethane and Propane profoundly changed NA petrochemical feedstocks structure with its cost advantage and availability
Source: EIA
US NGL production, Million Barrels/Day
©2013 KBR, Inc. All Rights Reserved 5
Impact to Olefins Production
Ethane and propane cracking produces less propylene than naphtha cracking
Propane can be used as feedstock for on purpose propylene production
Typical olefins plant product yields
Source: public literatures
020406080
100120
EthylenePropylene
©2013 KBR, Inc. All Rights Reserved 6
Export Balances NA Propane
Ample propane supply after retail and petrochemical feedstock use
US recently becomes the leading propane exporter, topping Middle East
Propane export capacity expanded with matching gas processing, pipeline, and storage
Possible US propane global price parity concerns PDH economics
Source: EIA
US Propane/Propylene Import/Exports (MM Barrels/Day)
©2013 KBR, Inc. All Rights Reserved 7
Global Propylene Supply Demand Gap Widens
Propylene demand keeps growing: organic growth;; new applications
Propylene demand to go from 80 to 100MM ton in 5 years
Crackers propylene: ethylene driven;; lighter feedstocks
Refinery propylene: gasoline driven;; slow growth
Cracker 55%
Refinery 31%
PDH 5%
Metathesis 4%
MTO 1%
Others 4% Other
14%
Global Propylene Production 2012
Source: IHS
©2013 KBR, Inc. All Rights Reserved 8
NA Propylene Production
02468
1012141618
2000 2007 2012 2017
PDHMetathesisRefineryCracker
Cracker production declines further until new projects come up
Refinery propylene battles declining fuel consumption
On purpose production fills the gap
Million Metric Ton
Source: IHS
©2013 KBR, Inc. All Rights Reserved 9
New NA On Purpose Propylene Projects
On Stream Capacity (KTA) Technology Company
2015 750 PDH Dow
2015 750 PDH Enterprise
2016 600 PDH FPC
2016 500 PDH Williams
2017 1000 PDH Ascend
2018 750 PDH Dow
Petrologistics started up their 500 KTA PDH plant in 2010.
Six upcoming PDH projects with a total capacity of 4.35 MM Ton per year
LyondellBasell called off their 225 KTA metathesis project
Feedstock stability important to downstream players in addition to cost
Source: company press releases
©2013 KBR, Inc. All Rights Reserved 10
Impact to NA propylene Derivatives
Reduced PP export for a few years
Impact less prominent to other propylene derivatives
7.5 9.0 7.6 8.4
0
2
4
6
8
10
12
14
16
2000 2007 2012 2017
OthersPropylene OxidePolypropyleneButanols2-Ethyl HexanolIsopropanolCumeneAcrylonitrileAcrylic Acid
Source: IHS
NA propylene demand, Million Ton
©2013 KBR, Inc. All Rights Reserved 11
Impact to Global Propylene Derivatives
Propylene demand growth sensitive to macroeconomics Most propylene derivatives tied to durable goods
China Strong desire for self sufficiency, building on coal supply
Favorable tax structure to encourage propane import
PDH and MTO to make up 1/3 production by the decade end
Gap remains, despite reduced import
Middle East
Continue to export, yet slower growth
©2013 KBR, Inc. All Rights Reserved 12
US Propylene Price High Yet Volatile
Tight supply-demand brings price volatility
Strength of derivatives demand and inventory management
Operational outages and seasonal turn around
Alternative RG propylene value and on purpose production economics
Arbitrage opportunity for import
Source: Argus
0
500
1000
1500
2000
2500
2006 2007 2008 2009 2010 2011 2012
Ethylene, $/MTPropylene, $/MT
©2013 KBR, Inc. All Rights Reserved 13
On-purpose Propylene Production
Traditionally demand driven in regions with shortages New Norm: supply driven to take cost advantage of feedstocks Technologies
Propane Dehydrogenation (PDH) Metathesis Methanol to Olefins (MTO / MTP) Catalytic Cracking High Severity FCC
©2013 KBR, Inc. All Rights Reserved 14
Propane to Propylene (PDH)
High selectivity, >80% propylene yield from propane
Hydrogen typically used as fuel for the process
Fixed bed, fluid bed, and moving bed reactors, all commercialized
Propane/Propylene pricing differentials drives project economics
Market considerations: feedstocks security;; derivative competitiveness
Propane Propylene + Hydrogen
Source: Argus
US Pricing
0
500
1000
1500
2000
2500
2006 2007 2008 2009 2010 2011 2012
Propylene, $/MT Propane, $/MT
©2013 KBR, Inc. All Rights Reserved 15
Metathesis (Re-arrangement of Olefins)
Requires high purity ethylene and high purity butene
Commercially proven operation in fixed bed reactors, cyclic operation
Unique set of requirements for positive project economics
Positive propylene to ethylene price ratio
Availability and low cost of C4 or
Ethylene dimerization unit when C4 is not available
Ethylene 2-Butene
Propylene Ethylene
Metathesis
Butenes Isomerize to 2-Butene
©2013 KBR, Inc. All Rights Reserved 16
Methanol to Olefins
Primarily a coal play in China
Capital intensive, especially with syngas and methanol plant
No economic direct methane to propylene route exists
Economics depend low cost feedstocks or methanol
Environmental concerns
Syngas production
Syngas to Methanol MTO Coal or
Natural Gas
Ethylene Propylene
Methanol Synthesis
Methanol to Olefins
MTO/MTP
©2013 KBR, Inc. All Rights Reserved 17
Light Hydrocarbon Catalytic Cracking
Feedstocks flexibility
No need for pre-treatment
Either fluidized or fixed beds, using catalysts
Catalytic cracking Various refinery and cracker light streams
Ethylene Propylene
©2013 KBR, Inc. All Rights Reserved 18
KBR - Catalytic Olefins
High propylene yields, with ethylene and aromatic-rich gasoline byproducts
Typical P/E ratio = 2:1 for olefin-rich feed
Typical P/E ratio = 1:1 for straight run naphtha
Well proven KBR FCC reactor technology
Product treatment and separation follow ethylene plant technology
Both Grassroots and Revamp opportunities
Light olefinic paraffinic feeds
Propylene ethylene aromatic-rich streams
©2013 KBR, Inc. All Rights Reserved 19
High Severity FCC
Propylene yield improvement from FCC
Improvement achieved by Catalyst and additive modifications
Process condition changes: pressure, temp, catalyst/oil ratio
Hardware change
A variety of technology offerings
KBR offers MaxofinTM process
2 - 8% FCC propylene yield
15 -25%
©2013 KBR, Inc. All Rights Reserved 20
On Purpose Technologies Comparison
Process Metathesis PDH Catalytic Olefins
MTO/MTP
Feedstocks Ethylene & Butene
Propane C4-C10 Olefins or Straight Run
Methanol (or coal/methane)
Ethylene price sensitivity Negative Neutral Positive Positive (MTO)
Feed Pretreatment Significant Significant None to little None
Major Byproducts None None Ethylene BTX gasoline
Ethylene (MTO) Water
Economic plant size Small to moderate
Large Small to large Large
Commercial proven Yes Yes Yes Yes
Capital Investment Low to moderate
Moderate Moderate Moderate to Large