INEOS halts Cologne MEG production for maintenance

31 August 2012 12:36  [Source: ICIS news]

LONDON (ICIS)--Production at INEOS Oxide’s ethylene glycol plant in Cologne Germany has been halted for planned maintenance, a source at the chemical major confirmed on Friday.

Production at the plant was suspended on 25 August and is expected to restart in mid-September, the source added. The plant has a nameplate monoethylene glycol (MEG) capacity of 150,000 tonnes/year according to ICIS.

The announcement comes at a time when Europe MEG supply is tight. Recent and ongoing production outages and rumours of production outages have caused a run on product in the past few weeks as buyers attempt to ensure supply. Because of low inventory levels, which were reduced to help mitigate the effects of poor macroeconomic conditions, there has been no buffer stock in tanks, sources said.

As a result of the limited availability MEG bulk spot price ideas rose to €960-1000/tonne ($1,200-1,250/tonne) CIF NWE T2 (cost, insurance freight, northwest Europe T2) on Friday, an increase of €50/tonne compared with last week. No deals were done due to an absence of available material, but sentiment is firming

INEOS is registered in Switzerland.

($1 = €0.80)


By: Mark Victory
+44 208 652 3214



AddThis Social Bookmark Button

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.

Printer Friendly

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