28 March 2011 05:08 [Source: ICIS news]
SINGAPORE (ICIS)--Turkey’s petrochemical imports from Egypt and Libya have been hit in the wake of the political turmoil that has swept across North Africa and the Middle East for the past few months, traders said late on Sunday.
Turkey has not been receiving ethylene and polyethylene (PE) supply from Libya over the past two months, as political violence was unabated in the North African country, an Istanbul-based trader said on the sidelines of the International Petrochemical Conference (IPC).
“I used to import 2,000 tonnes of PE and 1,500 tonnes of ethylene every month from Libya,” the trader said.
In 2010, Libya exported 48,000 tonnes of PE and 80,000 tonnes of ethylene to Turkey, the trader said.
The trader’s firm took into Turkey half of Libya’s exported PE volume and 22.5% of the ethylene shipments, he said.
Meanwhile, a Europe-based trading company that supplies polymers to the Turkish market has also stopped importing product from Egypt “for some time”.
Egypt’s political uprising, which was inspired by a revolt in Tunisia, led to the successful ousting of its 30-year dictator, Hosni Mubarak.
With major polymer supplier Saudi Arabia also having its share of political problems, petrochemical traders said they are increasingly becoming cautious.
Hosted by the National Petrochemical & Refiners Association (NPRA), the IPC continues through Tuesday.
Additional reporting by Prema Viswanathan
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