China BlueChemical's set to 800,000t/y methanol program

China BlueChemical Ltd. recently started the construction of its methanol project in Dongfang Chemical City of Hainan Province with annual capacity and overall investment at 800,000 tons and one billion yuan.

This methanol program is expected to come into operation in October of 2010 and is designed to process the natural gas from Ledong natural gas field of CNOOC China Ltd., said source with CNOOC Kingboard Chemical Co., Ltd.

China BlueChemical plans to develop methanol derivatives at the programs in order to extend industry chain.

Currently, CNOOC Kingboard Chemical operates another methanol plant in Dongfang Chemical City with annual capacity at 600,000 tons.

China BlueChemical and Kingboard Investments Limited jointly founded CNOOC Kingboard Chemical in 2003, holding 60 percent and 40 percent shares, respectively.