26 November 2012 22:21 [Source: ICIS news]
DUBAI (ICIS)--The overall petrochemicals capacity in the Gulf region grew by 10% year on year to 121m tonnes in 2011, buoyed by the 11m tonnes of new capacity commissioned in top producers Saudi Arabia and Qatar, according to a report by Gulf Petrochemicals and Chemicals Association (GPCA).
These new additions, however, are 38% lower than in 2010 when Gulf Cooperation Council (GCC) producers brought on line 17.9m tonnes of petrochemical capacity, it said in a report titled "GCC Petrochemicals & Chemicals Industry Facts and Figures".
The report will be released during the 7th Annual GPCA Forum to be held in Dubai, the United Arab Emirates, at Madinat Jumeirah from 27-29 November.
Over 1,600 delegates are expected to attend the event which this year is focused around the theme of "sustaining competitiveness in a rapidly changing world", according to the GPCA.
Saudi Arabia continues to lead capacity expansions in the GCC region - made up of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates - and accounts for 52.3% of the new capacity being commissioned in 2011, according to the GPCA.
Saudi Arabia's petrochemicals capacity grew by 13.3% year on year to 81m tonnes last year, it said.
About 75% of the GCC's polymers capacity is located in Saudi Arabia. As of 2011 polymers capacity in Saudi Arabia is estimated at 15.4m tonnes, according to the GPCA.
Qatar, meanwhile, brought on line 5.2m tonnes of the additional petrochemicals capacity in 2011 which accounts for 47.3% of the capacity additions in the GCC in 2011, the GPCA said.
This brings Qatar’s total petrochemicals capacity to 16.7m tonnes, according to the GPCA.
Qatar is the second-largest petrochemicals producer in the region accounting for 14% of the total GCC capacity in 2011.
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