New ASEAN Energy to acquire interest in petrochemical complex
The complex will utilise next generation technology to generate greater efficiencies, lower production costs and low carbon and renewable energy.
In recent years, the region has witnessed increasing investments in the downstream industry due to continued growth of the end-markets that consume petrochemicals.
To aid the implementation of its strategy, NAE is partnering with Singapore’s ChemOne Group, which brings a 40-year track record of developing and operating petrochemical plants across Southeast Asia.
Incorporated in Delaware and headquartered in Houston, NAE’s board of independent directors includes Bobby Tudor, previously a partner with Goldman Sachs and the former chairman and founder of Tudor, Pickering, Holt & Co., now a part of Perella Weinberg Partners; and Robert Turnham, former president, director and founding partner of Goodrich Petroleum Corporation, a public exploration and production company for 26 years prior to its sale in 2021.
NAE is led by CEO William Byun, a seasoned expert in infrastructure investing and renewable energy across the Asia climate sector.
He said: “Leading NAE’s investment and executing on our strategic goal in Southeast Asia is an executive management team and board of directors with extensive public and private sector experience in energy, sustainability, and finance.
“We look forward to establishing and building a market leading position in this high demand business and rapidly growing area of the world.”