China to become net naphtha importer from 2009
05 March 2008 04:02 [Source: ICIS news]
MUMBAI (ICIS news)--China is forecast to become a net importer of naphtha from as early as 2009 as addition to cracker capacity would be faster than refining capacity, an industry consultant said late on Tuesday.
About 150,000 bbls/day of reformer and 1.5m tonnes/year of naphtha-based ethylene capacity are due to start in 2009, said
In comparison, only about 700,000 bbls/day of refinery capacity would be added in 2009.
The consultancy estimated
Ravivenkatesh expected
A reduction in naphtha demand from power and fertiliser plants following the penetration of gas would be more than offset by the start up of Indian Oil Corp’s naphtha cracker at Panipat in 2009.
“The East of Suez naphtha market is forecast to be net short in the medium term. For 2008, the market is forecast to be tight in the first half and weak in the second half mainly due to the end of refinery turnarounds and lower operating rates at export-oriented crackers with the start up of new
The market is forecast to become strong in 2009 and 2010 with the completion of a number of reformer and cracker projects feeding naphtha with the bulk of it located in
The two-day conference, organised by the Confederation of Indian Industry (CII), will conclude on 5 March.
By: Malini Hariharan
+65 6780 4359
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