APLA '13: Colombia's Ecopetrol eyes 2-3% PE demand growth

17 November 2013 20:32  [Source: ICIS news]

CARTAGENA, Colombia (ICIS)--Ecopetrol expects polyethylene (PE) demand to grow by 2-3% for the next couple of years before increasing to a more typical level, a manager for the Colombian-based producer said on Sunday.
 
Demand growth reached a relatively low level because industrial development in Colombia has slowed down, said Fernando Cubillos, coordinator of strategy and markets, petrochemicals and industrials management. Cubillos made his comments on the sidelines of the Latin American Petrochemical Association (APLA) annual meeting.
 
In addition, demand has slowed down because of slower growth in China and the US, Cubillos said. The Colombian economy has close ties to the US.
 
Looking ahead, PE demand growth should reach 5-6% in later years, he said. "Hopefully, we will pass through these years and regain normal growth of the market."
 
The APLA conference ends on Tuesday.
 
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By: Al Greenwood
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