PODCAST: Petrochemicals now driven by geopolitics more than economics

Author: Will Beacham

2020/07/20

BARCELONA (ICIS)--China’s new plan to accelerate a huge investment in Iran’s energy and petrochemicals shows how geopolitics is now driving petrochemical investments rather than economics.

  • China to accelerate investment of up to $230bn in energy and chemicals investments in Iran
  • Deteriorating US-China relations driving a new Cold War
  • Iran has huge resources and potential for chemicals
  • Iran could become major exporter of chemicals to China and Asia at expense of US
  • Iran is already ramping up exports of methanol to China
  • Geopolitics is now driving petrochemicals
  • Conflicting signals on downstream chemicals demand for July and August
  • China – worst floods in decades jeopardise economic recovery
  • Chemical industry needs to react to structural changes in automotive, aviation, energy industries
  • Focus on sustainability and affordability
  • Sell solutions, not just products

Listen to this podcast interview with Paul Hodges, chairman of consultancy International eChem; John Richardson, ICIS senior consultant, Asia and ICIS Insight editor Nigel Davis.

Podcast interview by Will Beacham 

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