ExxonMobil reinforced its long-term supply commitment to the fast-growing Asia-Pacific market today during an event celebrating the expansion of its Singapore chemical production facility.
“Global chemical demand will grow at a faster pace than GDP as people seek higher standards of living and purchase more household and packaged goods manufactured with chemical products,” Rex W. Tillerson, Exxon Mobil Corporation chairman and chief executive officer, said at the event.
“Two-thirds of that growth in chemical demand will be here in the Asia-Pacific region. ExxonMobil’s expanded Singapore chemical plant is uniquely positioned to serve these growth markets – from China to the Indian subcontinent and beyond.”
ExxonMobil’s expansion project doubled the size of its finished product capacity in Singapore, making it the largest chemical expansion in the company’s history.
The Singapore chemical facility, which now accounts for about one-quarter of ExxonMobil’s global chemical capacity, incorporates more than 40 new proprietary technologies and is designed to be one of ExxonMobil’s most energy efficient and flexible sites. For example, a new steam cracker can process an unprecedented range of feedstock, from light gases to crude oil, to produce an expanded slate of premium and commodity petrochemicals.
ExxonMobil has operated in Singapore for 120 years and is one of the country’s largest foreign manufacturing investors. The company employs 2,000 people at its refining and chemical production complex in Singapore. ExxonMobil cogeneration facilities, with capacity of 360 megawatts, meet the steam and electricity needs of the manufacturing complex, resulting in lower operating costs and reduced greenhouse gas emissions.
