30 March 2010 01:57 [Source: ICIS news]
By Tahir Ikram
SAN ANTONIO, Texas (ICIS news)--Asia will lead the demand growth of ethylene oxide (EO) product chain including mono ethylene glocol (MEG) in coming years with global consumption rising about 6% annually, a Shell executive said on Monday.
“Shell’s view is that growth will be consistent with previous years,” Thomas Chhoa said on the sidelines of NPRA International Petrochemical Conference (IPC) in ?xml:namespace>
Global demand growth was estimated at 6% while
America and Europe were expected to see demand growing at a rate of 2%, while South Amercia and the Middle East in excess of 10% - though the base was very small, he added.
Chhoa said the EO product stream had seen an “unprecedented” growth with a record level of capacity addition - about 2m-3m tonnes - in recent years, while in the next two to three years another “one million to one and a half million tonnes” would be added.
The new capacity would make the market extremely competitive and adjustments may take place so supply and demand would balance, Chhoa added.
“There will likely to be an un-equal sharing of pain,” he said.
“From our perspective we believe we will be strong competitor in the market,” he added.
Chhoa said the recent launch of Shell cracker in
He said the new project in
Hosted by the National Petrochemical & Refiners Association (NPRA) the IPC continues through Tuesday.
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