18 November 2013 20:57 [Source: ICIS news]
CARTAGENA, Colombia (ICIS)--An ExxonMobil official said on Monday that the US company is looking at its “notable absence” of steam crackers in South America.
“We don’t have anything in South America and that is an area obviously we are looking very intently at, and the reason why we are here,” said Dwight Tozer, ExxonMobil’s vice president, adhesion industry business.
Tozer spoke at the Latin American Petrochemical Association (APLA) annual meeting.
He said demand for polyethylene (PE) in South America will grow significantly over the coming years, averaging 4% annually, as a result of an expanding middle class in the region.
The US will export resin to South America, but there is enormous potential for projects in the region “from the wellhead all the way through to final product,” Tozer said.
The official did not provide details on where any potential project would be based other than to say that ExxonMobil saw “tremendous potential” in Latin America and in Colombia “in terms of working some of these integrated value chain principles”.
The APLA conference ends on Tuesday.
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