According to the company’s website media release on September 20, 2022, PETRONAS Chemicals Group Berhad (PCG), the petrochemical arm of PETRONAS, and ExxonMobil have signed a memorandum of understanding to assess the potential for large-scale implementation of advanced plastic recycling technology to help create a circular economy for plastics in Malaysia. The companies will also evaluate opportunities to support improvements to plastic waste collection and sorting in the country.
Representing PCG at the signing was Ir. Mohd Yusri, Managing Director/Chief Executive Officer, and for ExxonMobil, Dave Andrew, Vice President of new market development.
“PCG has been continuously exploring and implementing innovative technologies to develop sustainable solutions demanded by its customers,” said Ir. Mohd Yusri. “This collaboration is yet another significant step towards the transition into a circular economy on the back of increased demand for circular products and signifies our commitment to use recycled raw materials in the chemical industry.”
“Advanced recycling plays an important role in meeting the growing demand for circular products, while helping to address the challenge of plastic waste,” said Andrew. “Leveraging new technologies and the expertise of both of our organizations, we hope to accelerate a more circular economy for plastics in the region.”
The agreement builds on a long-standing relationship between ExxonMobil and PETRONAS that has seen multiple successful collaborations and business ventures in Malaysia and abroad.
PCG is committed to accelerating the region’s transition to a more circular economy for plastics. The company is currently conducting several feasibility studies on plastics recycling. In 2019, PCG signed an agreement with Plastic Energy to convert end-of-life plastics using a pyrolysis process, and the facility is on track to be operational by 2025. In addition, PCG is collaborating with waste management companies to unlock the value within the solid waste ecosystem in Malaysia. These collaborations will help to divert plastic waste from landfills and create an ecosystem that is conducive to the transition to a circular economy.
To enhance awareness of proper management of plastic waste in Malaysia, PCG also developed an education module titled “Plastic, Sustainability & You” that is distributed to schools nationwide. The module was developed in collaboration with The Ministry of Education, Solid Waste Management and Public Cleansing Corporation and Malaysian Plastics Manufacturers Association. Using the content from this module, PCG conducted webinar sessions and has successfully reached more than 130,000 people in Malaysia.
ExxonMobil plans to build approximately 500,000 metric tons of advanced recycling capacity at its integrated manufacturing facilities around the world by year-end 2026. At its proprietary Exxtend technology at its advanced recycling facility in Baytown, Texas, ExxonMobil has processed more than 5,000 metric tons of plastic waste since the facility started up in 2021, and is on track to complete large-scale expansion of the facility later this year. The company is assessing additional sites for advanced recycling in the U.S., Canada, Europe and Singapore, and collaborating with Plastic Energy to build an advanced recycling plant in France.
ExxonMobil is a founding member of the Alliance to End Plastic Waste, which is focused on accelerating investment in safe, scalable and economically viable solutions around the world to help address plastic waste in the environment. ExxonMobil also helped form the Houston Recycling Collaboration, which brings government, industry, and the community together to improve recycling rates, reduce landfill and transform waste into a valuable resource.
About PETRONAS Chemicals Group Berhad
PETRONAS Chemicals Group Berhad (PCG) is the leading integrated chemicals producer in Malaysia and one of the largest in Southeast Asia. It operates a number of world-class production sites, which are fully vertically integrated from feedstock to downstream end-products. With a total combined production capacity of 12.8 million metric tons per annum (mtpa), it is involved primarily in manufacturing, marketing and selling a diversified range of chemical products, including olefins, polymers, fertilisers, methanol and other basic chemicals and derivative products. Listed on Bursa Malaysia and with three decades of experience in the chemicals industry, PCG is established as part of the PETRONAS Group to maximise value from Malaysia’s natural gas resources.
PCG is one of the top 10 companies in the FTSE4Good Bursa Malaysia (F4GBM) Index, out of 200 largest companies ranked by market capitalisation. It is committed to ensuring that its business practices are in line with globally recognised standards for Environment, Social & Governance (ESG) practices.
For more information, please contact
Yogeswari Thangavelu
E-mail: yogeswari.thangavel@petronas.com
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.
The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world. To learn more, visit exxonmobil.com and the Energy Factor.
For more information, please contact
Sukiman Mohamed
E-mail: sukiman.mohamed@exxonmobil.com
Jocelyne Shu
E-mail: jocelyne.sm.shu@exxonmobil.com
