PODCAST: New ‘supermajors’ will dominate chemical industry
BARCELONA (ICIS)–A new wave of record-breaking sized cracker projects based on technologies such as crude oil to chemicals (COTC) signals the emergence of ‘supermajors’ who may dominate the industry.
- COTC produces huge volumes of low-cost chemicals
- COTC being developed in Middle East, China, South Korea
- “Supermajors” will harness low carbon technologies
- Options include electric furnaces, carbon capture and storage (CCS)
- Cost-advantaged ethane projects spring up in Abu Dhabi, Qatar and North America
- Disadvantaged regions such as Europe can invest in hydrogen, CCS, recycling and renewables
In this Think Tank podcast, Will Beacham interviews ICIS Insight Editor Nigel Davis, ICIS Senior Consultant Asia John Richardson and Paul Hodges, chairman of New Normal Consulting.
Editor’s note: This podcast is an opinion piece. The views expressed are those of the presenter and interviewees, and do not necessarily represent those of ICIS.
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