01 April 2012 21:53 [Source: ICIS news]
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“Much has been made of the shale gas phenomenon, but for this year the interesting aspect is the sanctions and the impact [on the ethylene market],” the trader said on the sidelines of the International Petrochemical Conference (IPC).
“Not one ethylene carrier will take ethylene from
Ship owners have found it increasingly difficult to secure the necessary insurance because US and European banks wish to avoid
Last month, there were unconfirmed reports that
There is ongoing speculation over how this will affect INEOS’s new ethylene terminal at
The terminal will allow INEOS, a major consumer of ethylene, to take advantage of deep-sea ethylene from the
“It’s a big tank built on the basis of cheap ethylene” the trader said.
With Iranian volumes out of the equation, it will be difficult to determine the impact on deep-sea availability and pricing.
The 1m tonne/year facility has been under construction for around 15 months and will feed INEOS’s ethylene oxide (EO) plant at Zwijndrecht, Belgium, and also link to
($1 = €0.75)
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