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South Korea’s LG Chem and the Italian oil and gas company Eni have formed a joint venture that will build and operate a previously announced biorefinery at LG Chem’s petrochemical complex in Daesan, South Korea. The final investment decision for the project is scheduled for later this year. The partners’ goal is to start up the refinery by 2026. It is set to have capacity to process about 400,000 metric tons per year of renewable biofeedstocks into multiple products, including aviation fuel and bionaphtha, using Eni’s Ecofining technology.
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