02 April 2012 18:41 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS)--Petrochemical Industry Co (PIC) is considering to build a new monoethylene glycol (MEG) plant at its home base in Kuwait, an executive from MEGlobal said on Monday.
“The Kuwaitis have announced their intention to build a new [MEG] plant,” Frank Hanraets, MEGlobal executive vice president for commercial and supply chain operations, told ICIS at the sidelines of the International Petrochemical Conference (IPC).
MEGlobal is a joint venture between PIC and US Dow Chemical, and markets around 3m tonnes/year of MEG.
"We are awaiting further news from PIC. However, it should be a world-scale plant of about 500,000-600,000 tonnes,” Hanraets said.
Forging ahead with its planned 1.4m tonne/year joint venture cracker project in Al Zuor, Kuwait, with EQUATE, along with a project in China, are among PIC's priorities, PIC said in its statement discussing its fiscal year 2010/2011 financial results.
Global MEG supply is currently tight and is expected to remain so in the coming years, given shortage in gas feedstock.
Hosted by the American Fuel & Petrochemical Manufacturers (AFPM), the IPC continues through Tuesday.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections