MOL’s €1.3bn polyols project helps move the company’s balance from transport fuels towards chemical production, according to Peter Csaszar, senior vice president, chemicals.
- Long-term, Hungary’s MOL will move towards chemicals as demand for transport fuels declines
- Russia-Ukraine war raised importance of energy security
- Commercial scale start-up of polyols project by end summer-early autumn
- On-spec commercial production expected by end 2024
- Production targeted at Europe
- Europe chemicals still suffering, improvement expected by 2025
- MOL has 35-year contract to manage Hungary’s municipal waste
- Waste provide feedstocks for recycling, energy recovery
- New EU parliament must make industrial policy a top priority
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