SCGC secures 15-year charter VLECs ethane deal with MOL

Bangkok-based petrochemical company SCG Chemicals, or SCGC boosts Vietnam’s competitiveness with the construction of ethane storage tanks. Furthermore, SCGC has already secured a 15-year long-term ethane supply agreement from the United States and successfully secured the first lot of three VLECs last January.

“Regarding the 15-year charter agreements for five VLECs to carry ethane from the United States to Vietnam, the charter agreement for the first lot of three vessels has already been signed with Mitsui O.S.K. Lines (MOL), while the charter agreement for the remaining two vessels are currently in progress and are expected to be finalized soon,” said Sakchai Patiparnpreechavud, chief executive officer and president of SCGC.

Meanwhile, the company has reported the latest progress on the ethane feedstock enhancement project at the Long Son Petrochemicals Complex (LSP) in Vietnam (LSPE Project), as preparations are underway for the construction of ethane storage tanks.

LSP has entered into an engineering, procurement, and construction contract for the ethane storage tanks, with construction expected to be completed by the end of 2027.

“LSP is the first petrochemical complex in ASEAN to