06 June 2012 10:53 [Source: ICIS news]
LONDON (ICIS)--The European chemicals industry is at risk of being left behind as US production grows faster with the advantages of shale gas, global analyst Bernstein Research said on Wednesday.
The analyst added that over the next several years, the
“Producers in other regions such as the Middle East and
“Consequently, producers in Europe and Asia, excluding
Bernstein said that US producers also have a fuel and power cost advantage for nearly all products, adding that these costs represent about 8-10% of the industry’s sales and are mostly supplied by gas and electricity.
“As a result, the
However, the analyst said overall low-cost US gas is positive for the global chemicals industry as it lowers input costs and spurs economic development.
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