JAKARTA, Indonesia & DALLAS--(BUSINESS WIRE)-- Celanese Corporation (CE), a global technology and specialty materials company, today announced that it has entered into a Joint Statement of Cooperation to advance the development of fuel ethanol projects with Pertamina, the state-owned energy company of Indonesia. In line with its long-term strategy to develop new and renewable energy capabilities, Pertamina will collaborate exclusively with Celanese to jointly develop synthetic fuel ethanol projects in the Republic of Indonesia utilizing Celaneses proprietary TCX® ethanol process technology.
Celaneses TCX® Technology can help Indonesia meet its growing demand for affordable, locally-sourced, high quality and safe liquid transportation fuel. High-octane fuel ethanol produced using TCX® Technology would help improve air quality through the reduction of particulate matter as well as nitrogen oxide and sulfur oxide emissions, said Steven Sterin, chief financial officer and president of Celaneses Advanced Fuel Technologies business.
These projects support many of the Indonesian governments long-term objectives for the use of its abundant local resources, specifically lower-rank coal, to drive economic development, reduce imported energy requirements and to improve environmental and air quality standards. We are delighted to work with Pertamina to further develop this opportunity within Indonesia and look forward to working closely with them to bring many benefits to the country.
Karen Agustiawan, President Director & CEO, PT Pertamina (Persero), said: A major priority for Pertamina is supporting the Government of Indonesia in securing and managing our energy resources to meet rising demand among both businesses and consumers so we can continue to drive our economic growth to benefit all sections of the society. To meet this goal, we are pleased to be actively working with companies like Celanese on the development and application of new forms of energy, such as synthetic fuel ethanol.
Indonesias current demand for transportation fuel in 2012 is expected to reach approximately 25 million tons and increase six percent annually through at least 2020. A 10 percent blend of high-octane fuel ethanol by 2020 would potentially require up to four world-scale TCX® Technology production units which could reduce Pertaminas gasoline import requirements by over 30 million barrels annually. In addition, high-octane fuel ethanol, which improves tailpipe emissions, may also assist Pertamina in meeting Indonesias goals of improving the countrys gasoline and air quality standards.
Under the Joint Statement of Cooperation, Celanese and Pertamina will work together to define potential supply arrangements, production locations and distribution strategies. Following this work, along with final investment decisions made by each companies management, and receiving all necessary approvals, production could begin in approximately 30 months.
Celanese Corporation is a global technology leader in the production of specialty materials and chemical products which are used in most major industries and consumer applications. Our products, essential to everyday living, are manufactured in North America, Europe and Asia. Known for operational excellence, sustainability and premier safety performance, Celanese delivers value to customers around the globe with best-in-class technologies. Based in Dallas, Texas, the company employs approximately 7,600 employees worldwide and had 2011 net sales of $6.8 billion, with approximately 73% generated outside of North America. For more information about Celanese Corporation and its global product offerings, visit www.celanese.com.
About Celanese TCX® Technology
Celanese TCX® Technology, an innovative ethanol production process, helps countries meet their growing transportation fuel needs by converting domestic natural gas and coal feedstocks to liquid fuel and helps countries that seek diverse, secure transportation fuel. For more information, visit www.celanesetcx.com.
This release may contain forward-looking statements, which include information concerning the company's plans, objectives, goals, strategies, future revenues or performance, capital expenditures, financing needs and other information that is not historical information. When used in this release, the words outlook, forecast, estimates, expects, anticipates, projects, plans, intends, believes, may, can, could, might, will and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the company will realize these expectations or that these beliefs will prove correct, including that any one or more plants will be constructed or will operate on the schedule or with the terms desired by the company. There are a number of risks and uncertainties that could cause actual results to differ materially from the results expressed or implied in the forward-looking statements contained in this release. These risks and uncertainties include, among other things: changes in general economic, business, political and regulatory conditions; changes in the price and availability of raw materials; the ability to improve productivity by implementing technological improvements; increased price competition and the introduction of competing products by other companies; market acceptance of our technology; the ability to obtain governmental approvals and to construct facilities on terms and schedules acceptable to the company; the ability to maintain plant utilization; changes in the degree of intellectual property and other legal protection afforded to our products; compliance and other costs and potential disruption or interruption of production or operations due to accidents, cyber security incidents, terrorism or political unrest or other unforeseen events or delays in construction or operation of facilities; potential liability for remedial actions and increased costs under existing or future environmental regulations, including those relating to climate change; potential liability resulting from pending or future litigation, or from changes in the laws, regulations or policies of governments or other governmental activities in the countries in which we operate; changes in currency exchange rates and interest rates; and various other factors discussed from time to time in the company's filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.
Jon Puckett, +1-972-443-4965
Travis Jacobsen, +1-972-443-3750
Source: Celanese CorporationCopyright Business Wire 2012