- The Pengerang Energy Complex has secured over $102 billion USD off-take agreements with various major energy providers, like Equinor, Chevron, PTT, and Mitsui.
- It is expected to have better profits and a significantly lower environmental impact compared to similar plants.
- The agreement between New ASEAN Energy and ACTUAL is focused on developing a credible net-zero investment plan using ACTUAL’s AI-driven capital planning technology to enhance PEC’s environmental performance and move it towards net zero.
New ASEAN Energy (NAE) and ACTUAL have agreed to use ACTUAL’s AI-driven capital planning technology to create a comprehensive net-zero emissions strategy for The Pengerang Energy Complex (PEC).
PEC aims to become one of the world’s largest and most competitive integrated condensate splitter and aromatics facilities. With over $102 billion USD of off-take agreements with major energy providers, including Equinor, Chevron, PTT, and Mitsui, PEC is expected to have better profits and a significantly lower environmental impact compared to similar plants.
PEC’s products are important for industries such as textiles, bottling, housing, and pharmaceuticals. PEC aims to set industry-leading benchmarks, achieving the lowest carbon footprint per ton of Paraxylene (PX) produced by any facility globally. The collaboration between NAE and ACTUAL is focused on creating a credible transition plan using ACTUAL’s AI-driven capital planning technology to improve PEC’s environmental performance and move it towards becoming one of the first net-zero facilities globally.
Decarbonizing complex plants like PEC requires a multi-layered approach. ACTUAL and NAE plan to explore various strategies, such as building green renewable power plants, hydrogen production, green feedstocks, carbon capture technologies, and alternative sources for industrial heat, among others.
“ACTUAL’s technology was specifically designed for efforts like decarbonizing critical industries for our economy and resilience,” said Karthik Balakrishnan, co-founder of ACTUAL. “We are eager to work with NAE to create scientifically valid capital plans that could set PEC on the path towards net zero.”
“As we focus on investing in and operating high-margin, low-carbon facilities in Southeast Asia, finding new and innovative ways to improve our sustainability posture is crucial,” said William I.Y. Byun, CEO of NAE. “This collaboration is exciting because of the potential to demonstrate a clear, articulate pathway to net zero for one of the premier new facilities in the region.”
