The Korea Times
Korea resumed importing naphtha from Russia through a legal route Monday, four years after Western sanctions halted the Asian country's purchases of the key petrochemical feedstock from the world's largest nation. According to industry officials, LG Chem succeeded that day in bringing in 27,000 tons of Russian naphtha to Korea, which is expected to be used at one of the company’s naphtha cracking centers (NCCs) in Seosan, South Chungcheong Province. The Ministry of Trade, Industry and Resources also reportedly briefed lawmakers from the ruling Democratic Party of Korea about the resumption during a meeting earlier that day. The volume of the recent Russian naphtha imports is considered large enough for LG Chem’s NCC to operate an additional three to four days. Korean NCCs use an average of 4 million tons of naphtha per month to produce raw materials for petrochemical products such as plastic bags, food packaging and cosmetic containers. The war in Iran has disrupted naphtha shipments through the Strait of Hormuz, leaving Korean petrochemical firms and the government struggling to add
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