Back to announcement
20240508_TPIA_Laporan Informasi dan Fakta Material_31637331_lamp2.pdf
Other Text extracted TPIASource file signed link, expires in 15 minutes
Extracted text 9
Page 1
Company Disclosure Company Presentation to Analysts and Investors Acquisition of Shell Energy and Chemicals Park Singapore May 2024
Page 2
Shell Energy and Chemicals Park Singapore (SECP)
comprises of a refinery with processing capacity of 237,000
barrels per day of crude oil, a 1.1 million metric ton per annum
Introduction ethylene cracker on Pulau Bukom, and downstream chemical
to SECP assets on Jurong Island, Singapore.
SECP is a fully integrated refinery and petrochemical
manufacturing asset, with products supply into South East
Asia and beyond.
Key
Chandra Asri and Glencore can leverage their combine
Winning strength to unlock new opportunities to remain
partnership competitive amidst the energy transition, plan for future
messages with Glencore long-term growth, expand and extend our offering, and
deliver exceptional value for all our stakeholders.
Chandra Asri is uniquely positioned to capture value
through SECP asset’s acquisition:
SECP is a Strategically aligned to Chandra Asri’s growth strategy
good fit for Production complements Indonesia shorts for key fuel
Chandra Asri and chemical products and can leverage local network
Leverage shareholder advantages (Barito Pacific carbon
credits, Thai Oil and SCG expertise and supply chain)
2
Page 3
1. SECP is Shell’s integrated refining and chemical asset
located in Pulau Bukom and Jurong Island in Singapore
Asset snapshot Plant overview
Pulau Bukom
Shell Jurong Island
chemical plants
Subsea pipeline
Refinery Ethylene Cracker / ECC
Bukom
jetty
Shell Pulau 237 kbd 1.1 Mtpa
Bukom integrated Crude Processing Capacity Ethylene Production Capacity
refinery and ECC
Import-export infra within scope of deal (jetties, tanks, pipeline) not exhaustively
shown on map
Shell Energy and Shell Jurong Island (SJI)
Chemicals Park (SECP) Downstream Chemicals
Integrated refining and chemical operations in SMPO SM PO MPG Polyols Differentiated Polyols
Pulau Bukom and Jurong Island in Singapore
Includes existing workforce and infra (jetties, MEG MEG HPEO Ethoxylates
tankage, pipeline)
3
Page 4
1. SECP covers a fully integrated asset with a ~8 – 10 $Bn p.a.
revenue
Fully integrated value chain to Highly strategic "hub" location Experienced team with history
produce an array of fuel and with established petrochemicals of strong operations and HSSE
chemical products ecosystem and strong track record
government support
50-80% indigenous feedstock >100 global chemical firms with ~1,500 FTE included
from Refinery into ECC major operations located in SG
20-30% crude-to-chemfeed >25 free trade agreements 15 average years of service
conversation ratio
~85% sales in Singapore served 0 fatalities since 2005 (Pulau
Bukom and Jurong Island)
8-10 $Bn p.a. in revenue by pipeline (mainly olefins)
4
Page 5
2. Chandra Asri is poised to benefit significantly from the
transaction
Total production volume from Chandra Asri assets, ‘000 ton
~5X Revenue Growth projected from 2024 - 2026 106.7% p.a.
18,073
900
CA: ∆400 KT
EDC: ∆500 KT
Chemicals:
6.4% 3.2%
p.a. p.a. C2: Δ1100 KT 8,501
SM: Δ1040 KT
7.4% p.a. PE: ∆400 KT
BD: Δ155 KT
Others: Δ2145 KT
PP: ∆110 KT
C2: Δ80 KT
C2: Δ260 KT C2: ∆40 KT
C3: Δ50 KT SSBR:
C3: Δ150 KT C3: ∆20 KT MTBE: Refinery:
Pygas: Δ60 KT Δ120 KT
PE: Δ16 KT Pygas: Δ120 KT Py-gas: ∆18 KT ∆128 KT Bitumen
C4: Δ40 KT BD: Δ37 KT 4,440
PP: Δ480 KT BD: Δ100 KT C4: Δ95 KT Mixed C4: ∆15 KT B1: ∆43 KT Δ1430 KT
SM Δ:340 KT
4,232 4,232 Gasoil:
3,301 603 171 Δ2969 KT
625 157 Gasoline: Δ1639 KT
1,510 496 100 Fuel: Δ1727 KT
570 Others Δ735 KT
2005 07 11 13 16 16 18 19 20 20 24 25 (F) 25 (F) 26 (F) 2026 (F)
Cracker Merger New PE,
SSBR
Expansion with TPI & PP MTBE
BD Plant Cracker operation, SECP
& Increase expansion, and CA-EDC
Operation Expansion BD ACQUISITION
Acquisition PE Furnace Butene-1
expansion
of SMI Capacity revamp
2016 – 2020 2024 – 2026
5
Page 6
2. Glencore is a one of the world’s leading natural resources
companies
Glencore at a Glance (2023)1 Glencore at a Glance (2023 Figures)1
Market cap (LSE-listed US
US$218Bn US$17Bn $71.5 Bn (31 Mar 2024)
Revenue Adj. EBITDA
Industrial Marketing
645 mbbl 535 mbbl
77% 23%
Crude Oil Sold Oil Products Sold
contribution to group EBITDA (2023) contribution to group EBITDA (2023)
Production from own sources
Industrial Business (2023) Major producer of commodities that Generate returns as a feel-like income
support the energy and mobility from distribution of physical
Through its Industrial business, Copper 1,010 kt transition commodities and arbitrage opportunities
Glencore produces various
commodities from over 60 assets Cobalt 41kt
Industrial EBITDA breakdown by Marketing EBITDA Breakdown by
across metal and energy markets Zinc 918 kt product (2023) product (2023)
Portfolio focused on long-life, high- Lead 192 kt
quality assets with a value over volume Energy products Metals & minerals Energy products Metals & minerals
Nickel 98kt
lens, focusing on brownfield
opportunities, cost control & synergies Gold 747 koz
Silver 20,011 koz
Diversify product offering by maintaining 61% 39% 54% 46%
a wide geographical presence, and Ferrochrome 1,162 kt
optimize offering via processing and
refining assets Coal 114 mt
Oil 4,743 kboe
1. Estimated figures from Glencore
Source: Glencore, London Stock Exchange 6
Page 7
2. Chandra Asri and Glencore have the
capabilities to support SECP’s feedstock and
offtake needs, as well as unlock new synergies
Bukom (refinery + ethylene cracker complex) Jurong Island complex (SJI)
Overview of SECP asset’s post-bid supply and offtake structure
Key takeaways
Crude feedstock: Glencore, SIETCO, PTT Trading
Under the new structure, Chandra
Imported naphtha and other feed: Asri and Glencore can leverage
Refinery Glencore, Chandra Asri their global capabilities to support
SECP’s feedstock and offtake needs,
Feed to cracker
and find new synergies to create
ECC upside:
Crude basket synergies and
SMPO 1 + 2 MEG optimization
PODer2
Offtake synergies for Fuel
Products Offtake
Fuel products Chemical products Synergies for Chemical
• Gasoline, gas oil, jet fuel, fuel oil offtaker: Glencore, • Polyol, MEG, and others1 offtaker: products
SIETCO, Chandra Asri Chandra Asri
• Base oil offtaker: Shell Global Lubricants
• Bitumen: SIETCO, Chandra Asri
1. Ethoxylates, HPEO, PO, MPG, SM
2. Propylene Oxide Derivative
7
Page 8
3. Chandra Asri is uniquely positioned to capture additional
value from SECP due to its natural advantages
Supports Chandra Asri’s growth while capturing operational synergies
Aligned with strategy of expanding capacity, products through vertical
integration & advantaged feedstock;
Potential operational synergies (e.g., intermediate material exchange,
upsides from extending into distribution, offshoring, procurement)
Positioned to capture attractive product shorts in Indonesia through
Chandra Asri’s network
Access Indonesia shorts for key refinery, chemical products
Fuels: 34 kbd gasoline, 23 kbd bitumen, 6 kbd jet
Chemicals: 65 ktpa ethylene, 45 ktpa propylene, 370 ktpa MEG,
238 ktpa Polyols
Leverages shareholder supply chains and expertise
+ wider Indonesia
ecosystem Barito Pacific Group can support SECP Scope 1 and 2 emission
decarbonisation through offsets or supply of renewable energy
SCG and Thai Oil can create economies of scale for crude & feedstock
sourcing and operational expertise
Diverse base chemicals sourcing from SECP’s refinery (C2, C3)
Crude feedstock consolidation and logistics sharing with SECP’s ECC
8
Page 9
Names mentioned 1 people and organisations named in the text · linked when the evidence is strong
Extraction attempts how the parser did, and what it refused
Nothing structured was extracted from this document — the attempts below say why.
No extraction attempted yet.