Lurgi set for growth with new technologies portfolio
Bochum/Frankfurt am Main, March 7, 2005: Lurgi AG, a subsidiary of mg technologies ag, has refined its strategic focus on profitable technologies in high-growth markets. The plant constructor is concentrating on its own processes for manufacturing petrochemical products such as methanol, plastics or synthetic fuels using natural gas. These processes are more economical than traditional methods that rely on crude oil. "As the market and technological leader, focusing on the cost-efficient processing of natural gas will lead to promising business perspectives for Lurgi. Global oil supplies will continue to decrease over the coming decades. We offer our customers gas-based technologies which are already able to replace petrochemical products manufactured from crude oil, such as plastics, and which can be manufactured more cost-effectively," stated Michael Strätling, head of Lurgi, at a press conference in Frankfurt.
Lurgi is already the sole market leader in methanol, one of the most important basic raw materials used in the petrochemical industry. Lurgi plants are responsible for some 70 percent of global methanol production. Last October, Lurgi put the world’s largest methanol plant into operation on the Caribbean island of Trinidad. The market for methanol is growing at a rate of approximately 3 percent annually. At present, around 30 million tons of methanol are produced each year worldwide. Lurgi’s patented processing technologies allow the company to transform methanol into high-value products such as propylene cost-effectively. According to the German Association of Plastics Manufacturers, global use of polypropylene will increase approximately 6 percent annually, from just under 40 million tons today to well over 50 million tons in 2010.
Lurgi also focuses on technologies for the production of fuels from renewable raw materials such as biodiesel and bioethanol. According to expert estimates, biofuel consumption will increase from currently less than 5 million tons to around 14 million tons per year in the EU countries. In the US, consumption will increase from just under 9 million tons to nearly 15 million tons per year in the same period.
