09 May 2013 07:50 [Source: ICIS news]
TAIPEI (ICIS)--The US shale gas boom and the resulting crackers being built there will have a limited impact on the global petrochemical market, the chief executive of Borouge's sales and marketing arm said on Thursday.
"There will be some global impact but a limited one. The capacity additions in the Middle East and Asia - in terms of speed and feedstock - are much more significant," said Wim Roels, CEO of Borouge Pte.
Roels spoke on the sidelines of the Asia Petrochemicals Industry Conference (APIC) in Taiwan.
"It will have more of an impact on the Americas market. There will be some volume flows to Europe and Asia but limited," he added.
Expected capacity additions of around 6-7m tonnes in the US through the end of the decade would be dwarfed by the 37-38m tonnes in Asia and the Middle East over the same period, he noted.
"It's good to keep the US shale gas impact in perspective," said Roels.
APIC runs from 9-10 May.
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