Asian Chemical Connections
The France-based oil and petrochemical player will shift its feedstock slate towards using more gas as it expands capacity in the US and shuts down plants in Europe
Europe's petrochemical producers are likely to do everything they can over the next few years to drive production costs down and, where realistic, to weed out uncompetitive capacity.
A number of players - Switzerland-headquartered INEOS, Italy-based Versalis and Austria's Borealis - are looking seriously at importing ethane from the US to feed crackers in Europe.
INSIGHT: Firm mogas blending lifts Asia naphtha
"The motor gasoline (mogas) crack has hit above $10/bbl for the first time in eight months."
VIDEO: ICIS Special Report on US ethylene, benzene markets