30 October 2013 03:24 [Source: ICIS news]
SINGAPORE (ICIS)--The shale gas revolution is unlikely to have a major impact on global refining and petrochemicals markets through to 2020, a top executive from Thailand's PTT Global Chemical (PTTGC) said on Wednesday.
While the US is expected to deliver a significant amount of shale gas-based ethylene in the foreseeable future, there are still infrastructural developments needed for the country to be fully able to "support and accommodate" natural gas liquids (NGLs), said Anon Sirisaengtaksin, chairman of PTTGC.
Uncertainties over the US' export policies on liquefied natural gas (LNG) are also weighing on the sentiment over whether shale gas will have a material impact on the global petrochemicals market, he told delegates at the Downstream Asia 2013 conference in Singapore.
"In terms of impact [of shale gas] by the end of this decade we are not going to have much impact from shale gas," Sirisaengtaksin said.
"The increased availability of ethane and NGLs is usually seen as a bonus, mainly for the ethylene derivative chain, and the windfall is predicted to have a negative impact major chemical intermediaries and end-use specialty chemical products," he added.
The two-day Downstream Asia 2013 conference ends on 31 October.
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