Energy and chemicals consulting

Leveraging deep industry expertise to drive sustainable growth and innovation

Bespoke strategy and transactions advisory

Driven by the global shift towards cleaner energy and circular materials, sustainable practices are increasingly being adopted throughout the energy and chemical industries. With the shift towards low-carbon product life cycles, business operations and innovation are being fundamentally altered.

This transformation in both the business and regulatory landscape is challenging businesses to adapt without sacrificing competitive advantage, particularly in consumer sectors such as agriculture, textiles, automobiles, packaging, construction and personal care.

Lower your carbon footprint and improve resource and operational efficiency with specialist strategic consultancy. Our dedicated energy, chemicals and sustainability consultants specialise in corporate strategy and investment due diligence across Europe, the Middle East, Africa, Asia Pacific and the Americas. We advise on all aspects of strategic planning, from accessing recycling materials or implementing more sustainable product development, to gas monetisation, refining integration, hydrogen or M&A and project finance.

How we can help you

With our deep understanding of the key trends shaping energy, chemicals and sustainability we can guide you through every aspect of strategic planning, from early-stage development to new investments and asset evaluations.

Energy transition

How can the chemicals industry achieve climate neutrality?
What is the role of hydrogen in low-carbon chemicals?
Which feedstocks will support the energy transition?

Strategy

How can a country develop its petrochemical industry?
Which products will maximise value from local feedstock?
Is a strategy robust enough in different demand scenarios?

Sustainability

What is CBAM’s impact on industry competitiveness?
What are the carbon emissions per tonne of a product?
Which technology innovations will drive recycling advancements?

Transactions

What are the project risks and mitigants for lenders?
Is a target asset a risky acquisition?
What opportunities for value creation does a transaction present?

Value chain integration

What strategy will best monetise gas feedstock?
How can a refinery mitigate demand risks?
Which solution will maximise refinery-petrochemical integration?

Industry intelligence

What strategy will retain cost competitiveness in global markets?
Which regions offer optimal investment opportunities?
How will future trade patterns impact profitability?

Our leadership

ICIS consultants are industry leaders who have been advising key energy and chemicals stakeholders on the energy transition, sustainability, strategy, transactions, litigation and expert witness services over the last three decades.

To get in touch with the team, please email consulting@icis.com.

Tin Nguyen
Global Head of Consulting, London

Tin is a senior advisor and business leader to a broad range of global clients within the energy and chemicals industry, with a track record spanning more than 20 years. He has a MEng in Biochemical Engineering from University College London.

Stefano Zehnder
Vice President, Consulting, Milan

Stefano has over 35 years’ experience in refining and petrochemical feedstocks, and leads on energy transition projections and scenario modelling. He supports strategy development for energy and chemical majors and the lending community.

Dr. Nuno Faísca
Vice President Consulting, London

Nuno specialises in project finance and M&A, with a focus on technical and commercial due diligence, technology evaluation and strategy development. He holds a PhD in Chemical Engineering from Imperial College London.

Bala Ramani
Vice President, Consulting, Singapore

With a degree in Chemical Engineering and a Global MBA, Bala specialises in thought leadership and strategic decision-making in the petrochemical sector. He covers project screening, investment evaluation and strategic roadmaps, focusing on sustainability and plastics circularity.

Dr. Regan Hartnell
Principal, Consulting, Singapore

Regan designed ICIS’ price forecasting methodology, and specialises in supporting chemical majors and the lending community on due diligence and strategy development. He holds a PhD in Chemistry from QUT, Australia.

James Ray
Vice President, Consulting, Houston

James’ expertise spans supply chain, purchasing advisory, litigation & expert witness for chemical majors and financial institutions. He has a particular emphasis on plastics, sustainability and recycling.

Case studies

Here are a selection of case studies showcasing our consultancy expertise.

A European refinery wanted to evaluate strategic options along the energy and chemicals value chain, to mitigate the risks presented by the energy transition and sustainability policies, while increasing business resilience.

A global chemical association asked us to develop different pathways for the industry to achieve climate neutrality, factoring in uncertainty over future availability of key resources and the roll-out of alternative technologies.

A European recycling industry association engaged us to deliver several studies on collection, sorting and end-use applications of recycled plastics, exploring various scenarios within the announced EU legislative framework.

A Middle Eastern chemicals producer needed assistance in planning its next investment cycle to retain a competitive edge, focusing on proximity to primary consumption markets, with a clear understanding of costs and margins.

An Eastern European company with access to natural gas and regional refinery output partnered with us to develop an investment roadmap that would better monetise gas liquids and maximise value retention within the country.

An investment fund asked us to perform buy-side technical and commercial due diligence on a chemical recycling asset, determining an investment case against a backdrop of multiple technologies and routes under development.

Why use ICIS Consulting?

Single point of contact

Streamline processes with our specialised team combining a wealth of experience in the technical and commercial aspects of the energy and chemical industries. We work as one team to assess risks and opportunities for value creation.

Unrivalled industry intelligence

Gain a competitive edge, with accurate forecasting and strategic planning based on unparalleled industry expertise. ICIS has been a leader in chemical and energy industry intelligence for over 150 years.

Timely, in-depth insights

Act with confidence, knowing that our advice is based on daily, first-hand industry updates and analysis. Our global team of over 300 energy and chemical subject matter experts report on markets around the clock.

Local expertise across the globe

See the full picture across commodities, countries and regions with insights from our network of ICIS energy and chemicals subject matter experts embedded in key markets around the world.

Improved stakeholder credibility

Strengthen your negotiating position and build stakeholder confidence with a trusted advisor by your side. ICIS is recognised as a leading provider to the energy and chemical industries.

Deep techno-economic expertise

Navigate the impact of disruptive technologies on future supply and value chain competitiveness with a team skilled in evaluating intellectual property and techno-economic risks.

ICIS News

Think Tank: Plastics industry must find way forward after collapse of UN treaty talks

BARCELONA (ICIS)–Plastics and chemical producers need to find more effective ways to tackle the problem of plastic waste after UN treaty negotiations ended without agreement at the weekend. Consumer demand will drive improvements in plastic waste management Chemical companies need to reconnect with brands/consumers We will move out of current ‘trough of despair’ about recycling End of globalization may mean national/regional treaties are more effective UN Intergovernmental Negotiating Committee concluded in Busan, South Korea, on 1 December, with no definitive agreement Around 100 countries backed proposals, with a small number of hold-outs In this Think Tank podcast, Will Beacham interviews ICIS market engagement executive Nigel Davis 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. ICIS is organising regular updates to help the industry understand current market trends. Register here . Read the latest issue of ICIS Chemical Business. Read Paul Hodges and John Richardson's ICIS blogs.

03-Dec-2024

GPCA '24: Lack of recycling root cause of plastics pollution, Dow says

MUSCAT (ICIS)–Dow has attributed problems with plastics pollution to a lack of plastics recycling and not production, the US producer’s chair and CEO said at the 18th Annual Gulf Petrochemicals and Chemicals Association (GPCA) on Tuesday. Plastics are “essential” to the modern world, according to Jim Fitterling, and demand will only rise in the years ahead – but most countries have no roadmap to recycle plastics, let alone reduce production. Tensions between oil-producing nations, led by Saudi Arabia, and other nations advocating for a cut in plastics production, have stalled global treaty talks at the Intergovernmental Negotiating Committee (INC-5) in South Korea. The session concluded on 1 December with no definitive agreement. “When policymakers take it upon themselves to decide one type of energy is right and another type of energy is wrong, rather than asking what is right for each unique situation, that's when progress stops.” Dow is embracing innovation in its energy transition goals, with Fitterling asserting that its energy transition is “here to stay”. Through the company’s plan to “decarbonize and grow”, Dow aims to boost underlying earnings by over $3 billion while reducing greenhouse gas emissions by 5 million tonnes by 2030. Dow is working to transform plastics waste and other alternative feedstocks to commercialize 3 million metric tons of circular and renewable solutions annually,  and generate an anticipated $500 million of incremental run rate EBITDA by 2030, said Fitterling. However, Fitterling added that there is a need to “combat” the notion that recycling does not work, that “success will come from elimination rather than innovation”, as he asserted that recycling simply “isn’t available” to over three billion people globally. “Because for a vast majority of the world, it's not that recycling hasn't worked. It's that recycling isn't available.” Globally, less than 10% of plastic is recycled and approximately one-third of plastic packaging escapes collection systems, said Fitterling. The 18th edition of the GPCA is being held for the first time in Muscat, Oman this year and will conclude on 5 December. Thumbnail photo: Waste plastic bottles (Source: Shutterstock)

03-Dec-2024

GPCA '24: PODCAST: US tariffs cast shadow over GCC sustainability ambitions

MUSCAT (ICIS)–In this special edition of the ICIS podcast, Asia deputy news editor Nurluqman Suratman speaks with ICIS market development executive John Richardson on the sidelines of the 18th Annual Gulf Petrochemicals and Chemicals (GPCA) Forum on current issues facing the industry. Ongoing issues over a UN plastics treaty highlight divide between major producers and smaller players Upcoming US tariffs to change trade flows, dynamics for Middle East Global oversupply remains in focus as China demand growth slows Thumbnail image: At the 18th Annual GPCA Forum in Muscat, Oman – 3 December 2024 (By Nurluqman Suratman)

03-Dec-2024

UPDATE: GM, LG Energy Solution to develop prismatic battery cells for EVs

SINGAPORE (ICIS)–US carmaker General Motors (GM) and South Korea’s LG Energy Solution will join hands to develop prismatic battery cells for electric vehicles (EVs). “GM expects the prismatic cell technology developed under the agreement to power future GM electric vehicles, as part of the company’s strategy to diversify its supply chain, leveraging multiple chemistries and form factors,” GM said in a statement on 2 December. Prismatic cells feature a flat, rectangular shape with a rigid enclosure, which allows for space-efficient packaging within battery modules and packs. This can reduce EV weight and cost, while simplifying manufacturing by reducing the number of modules and mechanical components, GM said. The two companies are extending their 14-year battery technology partnership to include prismatic cell development. “LG Energy Solution has both experience with prismatic cell production and an extensive patent portfolio on battery design and manufacturing technologies, including packaging,” GM said. LG Energy solution executive vice president and head of advanced automotive battery division Wonjoon Suh said: “We look forward to deepening our collaboration to drive the right chemistry and battery combinations for continued growth in the EV market.” The automotive industry is a major global consumer of petrochemicals, which account for more than a third of the raw material costs of an average vehicle. EVs and associated battery markets, on the other hand, provide growth opportunity for the chemical industry. Chemical producers have been separately developing battery materials, as well as specialty polymers and adhesives, for the environment-friendly vehicles. “Together with LG Energy Solution, we’ve built Ultium Cells into one of the largest battery cell manufacturers in North America,” GM vice president of battery cell and pack Kurt Kelty said. Ultium Cells – which are currently being produced in Ohio and Tennessee in the US - power GM’s latest EVs including the Chevrolet Silverado EV, GMC Sierra EV, Cadillac LYRIQ, Chevrolet Blazer EV and Chevrolet Equinox EV, as well as the GMC HUMMER EV Pickup and sports utility vehicle (SUV). “We’re focused on optimizing our battery technology by developing the right battery chemistries and form factors to improve EV performance, enhance safety, and reduce costs,” Kelty said. In a separate statement on 2 December, GM said it has reached a non-binding agreement to sell its stake in the nearly completed Ultium Cells LLC battery cell plant in Lansing, Michigan to its joint venture partner LG Energy Solution. Financial details were not disclosed, but the transaction is expected to close in the first quarter of 2025. (Adds details throughout) Additional reporting by Pearl Bantillo Thumbnail image: Hummer electric vehicles at a General Motors factory in Detroit, Michigan, US – 17 November 2021 (By Dominick Sokotoff/Shutterstock)

03-Dec-2024

US Manufacturing PMI for November improves but remains in contraction

NEW YORK (ICIS)–The ISM US Manufacturing Purchasing Managers’ Index (PMI) improved to 48.4 in November – up 1.9 points from 46.5 in October, but remains in contraction (below 50) for the eighth consecutive month, and 24 out of the last 25 months. The November reading “was above expectations and although still contractionary, welcome news”, said Kevin Swift, ICIS senior economist for global chemicals. However, the “rolling recession” in manufacturing continues, he added. Only three sectors out of 18 expanded and the chemical industry again was not one of them. Overall manufacturing production rose 0.6 points to 46.8, a less contractionary reading. New orders moved up to a slightly expansionary 50.4 reading, but order backlogs contracted at a faster pace – a 41.8 reading, down 0.5 points from October. Both new orders and order backlogs, when combined with the reading on inventories, are good indicators of future activity, Swift pointed out. The inventories reading fell to 41.8 versus 42.6 in October. With still contracting inventories, an uptick in orders could translate into higher production, he noted. “Demand remains weak, as companies prepare plans for 2025 with the benefit of the election cycle ending. Suppliers continue to have capacity, with lead times improving, but some product shortages are reappearing,” said Swift. “Customers’ inventories were deemed at the ‘too low’ level which could be positive for future new orders. Prices, however, eased back towards stable levels. Prices are sensitive to changes in supply and demand, and tend to provide a leading signal,” he added. High mortgage rates continue to hamper demand for new housing construction, which is a key market for adhesives and sealants, one respondent in Chemical Products noted. EUROPE WEAK, CHINA IMPROVESMeanwhile, in Europe the HCOB Eurozone Manufacturing PMI put together and released by S&P Global contracted further to 45.2 in November versus 46.0 in October, marking the 29th consecutive month of contraction. The Caixin China General Manufacturing PMI released by S&P Global saw an improvement to 51.5 in November from 50.3 in October – its second consecutive month of expansion.

02-Dec-2024

SHIPPING: Asia-USWC container rates fall; Asia-USEC rates hold steady

HOUSTON (ICIS)–Global average container rates ticked lower last week, along with rates from Shanghai to the US West Coast, but rates from Asia-New York held steady during what is typically the slow season for transpacific ocean freight. Shipping analysts said rates remain elevated for several reasons, most significantly the frontloading of imports ahead of possible renewed labor strife at US Gulf and East Coast ports. The possible implementation of new tariffs proposed by the incoming Trump administration is also keeping upward pressure on rates. Global average rates fell by 2% for the week ended 29 November, as shown in the following chart from supply chain advisors Drewry. The following chart from Drewry shows the rates from Asia to both US coasts. Drewry expects spot rates to be relatively stable this week. Judah Levine, head of research at online freight shipping marketplace and platform provider Freightos, said inland truck and rail rates could also face upward pressure as tariffs aimed specifically at Canada and Mexico could lead to increased cross-border volumes. Levine said congestion remains minimal at US ports, including the main West Coast port of Los Angeles/Long Beach. Kip Louttit, executive director of the Marine Exchange of Southern California (MESC), said container ship traffic through the port continues to be steady with 67 container ships enroute and 12 scheduled to arrive in the next three days. Container ships and costs for shipping containers are relevant to the chemical industry because while most chemicals are liquids and are shipped in tankers, container ships transport polymers, such as polyethylene (PE) and polypropylene (PP), are shipped in pellets. They also transport liquid chemicals in isotanks. LIQUID RATES STEADY Overall, US chemical tanker freight rates were largely stable this week for several trade lanes, with the exception being the USG-to-Brazil trade lane, as that market picked up this week following activity during the APLA conference in Colombia. Part space has limited availability as most owners are awaiting contract of affreightment (COA) nominations. The USG-Asia trade lane remains steady as spot tonnage remains readily available and multiple cargoes of glycol and styrene are interested in December and January loadings, supporting the market. Similarly, on the transatlantic front, the eastbound leg remains steady as there was limited space available which readily absorbed the few fresh enquiries for small specialty parcels stemming from the USG bound for Antwerp. Various glycol, ethanol, methyl tertiary butyl ether (MTBE) and methanol parcels were seen quoted to ARA and the Mediterranean as methanol prices in the region remain higher. Additionally, ethanol, glycols and caustic soda were seen in the market to various regions. However, it is also clear that space is becoming very tight until the end of the year, keeping rates firm. The CPP market firmed, limiting the number of tankers offering into the chemical market, thus keeping rates stable. Additional reporting by Kevin Callahan

02-Dec-2024

Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 29 November 2024. ICIS Economic Summary: US election uncertainty over, policy impact to begin Much of the uncertainty surrounding the US election has been lifted, but there remain questions about the extent that stated policy goals will be achieved and their impact on the economy next year and beyond. INSIGHT: Deloitte expects more chem M&A as industry remains in flux The chemical industry is entering the new year amid an especially large amount of flux, with China receding as a demand driver, Europe contending with plant shutdowns and producers rearranging businesses through mergers and acquisitions (M&A). Canadian manufacturers fear ‘devastating’ impact from Trump's proposed 25% tariff New US tariffs on US-Canada trade would have a devastating impact on manufacturers, workers and consumers on both sides of the border, trade group Canadian Manufacturers and Exporters (CME) said on Tuesday. INSIGHT: LatAm chemicals face threats of US tariffs, global oversupply Chatter on challenges permeated the Latin American Chemical and Petrochemical Association (APLA) Annual Meeting as delegates faced down threats of global oversupply and the potential for new tariffs from the US. INSIGHT: US refiners to face higher oil, catalyst costs with Trump's tariffs The tariffs proposed by President-Elect Donald Trump on imports from Mexico, Canada and China would raise costs for the heavier grades of oil needed by US refineries as well as rare-earth elements used to make catalysts for downstream refining units. Argentina’s petchems prices to take time to fall despite import tax withdrawalArgentina’s decision to eliminate the so-called PAIS import tax earlier than planned is unlikely to have any impact on petrochemicals prices for now, sources said this week. LatAm PE domestic prices fall in Argentina, Brazil and MexicoDomestic polyethylene (PE) prices were assessed as lower in Argentina, Brazil and Mexico on the back of competitive offers from abroad and weak demand. In other Latin American (LatAm) countries, prices were unchanged.

02-Dec-2024

UPDATE: GPCA '24: Bahrain to host 2025 GPCA Forum

MUSCAT (ICIS)–Manama, the capital of Bahrain, will host the 19th Annual Gulf Petrochemicals and Chemicals Association (GPCA) Forum on 8-11 December 2025, according to GPCA promotional material seen by ICIS. It will be the first time for Bahrain to host the GPCA, the flagship chemical industry gathering in the Gulf Cooperation Council (GCC), which comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. GPCA secretary general Abdulwahab Al-Sadoun had said earlier that the forum next year will be held in Bahrain, continuing its round of GCC member nations since it was first held outside the UAE in 2022. The GPCA forum was held in Riyadh, Saudi Arabia in 2022, then moved to Doha, Qatar the following year, and is being held in Muscat, Oman this year. The 18th Annual GPCA Forum kicked off on Monday in Muscat, Oman and will run up to 5 December, with the theme “Industry’s Next Chapter: Driving Sustainable Advancement for Global Progress”. Last year’s GPCA Forum in Qatar attracted more than 5,000 delegates. (adds details throughout) Initial reporting by Nurluqman Suratman

02-Dec-2024

BLOG: Trump’s tariff war confirms geopolitics are replacing economics as the key driver for decisions

LONDON (ICIS)–Click here to see the latest blog post on Chemicals & The Economy by Paul Hodges, which focuses on the likely impact of Trump’s tariff wars. Editor’s note: This blog post is an opinion piece. The views expressed are those of the author and do not necessarily represent those of ICIS. Paul Hodges is the chairman of consultants New Normal Consulting.

02-Dec-2024

Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 29 November. Europe methanol supply shortages worsen for December, prices at 2022 highs Europe's methanol market is expected to tighten further as production outages in US and Europe apply pressure on supply. India’s Adani Group access to foreign capital at risk amid US bribery charges India’s Adani Group may run into difficulty accessing external funding and may see an increase in its capital costs as global rating agencies have downgraded the outlook for several of the group’s companies, citing escalating legal and governance risks. Soda ash annual contract talks progress as players prepare for another challenging year Soda ash demand in November is overall stable in Europe, but the lack of any pick-up has prompted some furnace closures at glass manufacturers, although some plants that were shut last year may restart next year. Deloitte expects more chem M&A as industry remains in flux The chemical industry is entering the new year amid an especially large amount of flux, with China receding as a demand driver, Europe contending with plant shutdowns and producers rearranging businesses through mergers and acquisitions (M&A). Europe PE/PP spot prices stable to soft as year ends with a limp Polyethylene (PE) and polypropylene (PP) spot prices were stable to lower in the week to 22 November, with limited business done.

02-Dec-2024