<article><p class="lead">South Korean petrochemical firm LG Chem aims to replace fossil feedstocks with renewable hydrocarbons from Finnish biofuels producer Neste in the manufacturing of polymers and chemical products by the second half of 2021. </p><p>LG Chem plans to start producing bio-based polyolefin, superabsorbent polymer, synthetic resin ABS, polycarbonate and polyvinyl chloride. Neste's renewable hydrocarbons are produced using its proprietary NEXBTL refining technology from raw materials, including waste oils such as used cooking oil (UCO) and palm fatty acid distillate (Pfad), and palm oil. </p><p>The firms announced the strategic partnership yesterday, which "will pave the way for sustainable growth in building a circular bioeconomy" by advancing biopolymer and biochemical markets in South Korea and globally, according to LG Chem's executive vice-president and petrochemical president Kug Lae Noh.</p><p>LG Chem became the first South Korean chemical company to make a climate change pledge when it announced a target in July to cap carbon emissions at 2019 levels of 10mn t and achieve carbon neutral growth by 2050. </p><p>Expanding into renewable polymers and chemicals is a <a target="_blank" href="https://www.argusmedia.com/en/news/1950868-qa-neste-singapore-expansion-targets-biojet">key part</a> of Neste's ongoing expansion at its Singapore refinery. The upgrade will increase its renewable diesel production capacity by 1.3mn t/yr to 2.3mn t/yr, with completion now targeted for the first quarter of 2023 following a delay because of the Covid-19 pandemic. The firm also manufactures renewable plastic feedstocks at its Porvoo Finland and Rotterdam refineries.</p><p class="bylines">By Lauren Moffitt</p></article>
