31 March 2014 20:20 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS)--Project development activity in the European chemicals and energy sector will be low this year as companies in the region focus on North America, an industry legal expert said on Monday.
“European companies are focused on North America. I think that the [project] development activity will be low,” said Hugh Tucker, a partner at Houston-based law firm Baker Botts. He spoke on the sidelines of the International Petrochemcial Conference (IPC).
Merger and acquisition (M&A) activity may be a little higher, he said, with some larger companies taking a long-term view and targeting “distressed assets”.
In the near term, however, North America will remain in sharp focus.
“Over the next four to five years the focus is still going to be on North America,” added Tucker.
Hosted by the American Fuel & Petrochemical Manufacturers (AFPM), the IPC continues through Tuesday.
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