The benefits of modern coal chemical industry will be polarized in 2022

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The Polarization of Benefits of Modern Coal Chemical Industry in 2022 Author/Source: Sinochem New Network Date: 2023-04-14 Click rate: 32 The reporter learned from the 2023 Petrochemical Industry Development Conference held on April 11-12 that in 2022, due to the intensified fluctuations in international oil prices, the price of Brent crude oil soared to US$128 in the middle of the year. The economic benefits of modern coal chemical projects such as coal-to-liquids and coal-to-gas are generally good, but the profits of coal-to-olefins have declined, the coal (synthetic gas)-to-ethylene glycol project has suffered losses, and the operation of modern coal chemical projects has become polarized. According to Sun Weishan, vice president of the China Petroleum and Chemical Industry Federation, in 2022, my country's total output of coal-to-liquids, gas, olefins, ethylene glycol and other products will reach 27.491 million tons, an increase of 12.7% over the previous year. ； The annual coal conversion was 106.9 million tons of standard coal, an increase of 9.2% over the previous year. ； The total annual operating income was 201.79 billion yuan, an increase of 24% over the previous year. ； The total profit was 13.19 billion yuan, an increase of 58.9% over the previous year. Among them, profits from coal-to-liquids increased significantly. As of 2022, the coal-to-liquids project has had no new production capacity for three consecutive years, with total production capacity remaining at 8.23 ​​million tons. The average utilization rate of the equipment has increased to 89%, an increase of 6.4 percentage points from the previous year. Profits have increased significantly, reaching 7.17 billion yuan. The total coal-to-gas production capacity remains at 6.125 billion cubic meters; the capacity utilization rate is 100.6% ； Total annual revenue reached 23.08 billion yuan ； The total profit was 6 billion yuan, reversing the loss situation in 2021. Coal-to-olefins production capacity increased by 200,000 tons, bringing total production capacity to 17.72 million tons ； The capacity utilization rate was 104.4%, an increase of 10.2 percentage points over the previous year. ； Annual revenue reaches 110.93 billion yuan ； The total profit was 3.01 billion yuan, but it declined from the previous year. The production capacity and output of coal (syngas)-to-ethylene glycol have increased, and the capacity utilization rate has remained low. In 2022, the new production capacity of coal (synthetic gas) to ethylene glycol will be 2.8 million tons, an increase of 34.9%, and the total production capacity will reach 10.83 million tons (not excluding 8 long-term suspended projects with a total production capacity of 1.5 million tons), accounting for 43.2% of my country's total ethylene glycol production capacity ； The output was 4.056 million tons, an increase of 25.5% over the previous year. ； The capacity utilization rate was 37.5%, a decrease of 2.7 percentage points from the previous year. Due to factors such as product application limitations and the impact of imported low-priced products, it is difficult to improve the efficiency of coal-to-ethylene glycol. The industry revenue was 16.5 billion yuan and a loss of 2.99 billion yuan. It is expected that the production capacity of coal-to-liquids and coal-to-gas will remain stable in 2023, and the new coal-to-olefins production capacity will be 1.6 million tons, with the total production capacity reaching 19.32 million tons. ； The coal-to-ethylene glycol production capacity will be increased by 1.8 million tons, and the total production capacity will reach 12.63 million tons. At the Petrochemical Power Forum held during the conference, Wang Xiujiang, deputy director of the Science and Technology Equipment Department of the Petrochemical Federation and deputy secretary-general of the Coal Chemical Industry Committee, pointed out that modern coal chemical industry should promote the high-end, diversified, and low-carbon development of the industry and develop steadily and orderly in accordance with the requirements of ecological priority, water-based production, total volume control, and agglomeration. ； It is necessary to promote the integrated development of coal chemical industry and petrochemical industry, realize the comprehensive utilization of coal, oil and gas resources, and provide hydrogen sources for the oil refining industry. ； To integrate development with the polyester industry, low-carbon olefins can be co-produced by producing paraxylene (PX) from toluene and methanol. ； It is necessary to strengthen the integration with the polyvinyl chloride industry, while accelerating the extension of coal-based chemicals to new chemical materials, the development of coal-based oil and gas into high value-added products such as special fuels and high-end chemicals, and focusing on improving the quality control level of coal-based ethylene glycol.