10 January 2013 19:49 [Source: ICIS news]
HOUSTON (ICIS)--Energy demand from US-based chemical producers is expected to grow fast in the next 25 year as the shale-gas boom has revitalised the country’s petrochemicals manufacturing sector, an ExxonMobil executive said on Thursday.
“ExxonMobil’s energy outlook indicates that the chemicals subsector of industrial energy demand will be the fastest-growing over the next 25 years," ExxonMobil Chemical senior vice president Bruce Macklin said in a presentation to a manufacturing conference.
As recently as five years ago, the ?xml:namespace>
However, with abundant and affordable domestic natural gas, the industry is “back on the path of competitively serving the growth markets of
“This is a great story, but it’s just the beginning,” he said.
“Given the feedstock advantage and the demand for our products, for the first time in a decade, producers in North America are talking about expansion in the form of debottlenecks and new grassroots stream crackers,” he added.
ExxonMobil, for its part, has filed permit applications for a petrochemical expansion at its
If developed, the project could create about 10,000 construction jobs and add about 350 permanent jobs to the company’s workforce of 6,500 in the
“The proposed investment reflects ExxonMobil’s confidence in the natural-gas driven revitalisation of the
“The innovative application of technology to produce natural gas is enabling
Additional reporting by Al Greenwood
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