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SK Chemical to Increase Biodiesel Output

Joongang Daily. South Korea’s SK Chemicals Co. plans to increase its production of biodiesel; its Ulsan plant, which produces biodiesel from palm oil, has tripled its production capacity to 120,000 metric tons a year from 40,000 tons.

SK Chemical also plans to build biodiesel facilities in Europe and the US, according to Hang-duk Roh, a company spokesman and vice president of the new businesses division.

...SK Chemicals has agreed to sell 60,000 tons of biodiesel from the [Ulsan] plant to European commodities trader Trafigura Beheer BV in 2010, with a high possibility of extending the contract after it ends in 2011, said Tom O’Brien, a director at Trafigura, at the signing ceremony in Singapore yesterday.

The biodiesel will be sold in Europe, the world’s biggest market for the fuel. European biodiesel demand was around 10 million tons a year, Roh said.

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