GCC states aiming to reach 25% of the global petrochemicals production capacity by 2025
The traditional natural gas global market was organized on the basis of the import-export flow between the major producing regions being the Middle East and the former USSR; and the major consumers being the US, China and Europe. But since the invention and implementation of shale gas exploration in North America, this equation has gone through a major turnaround.
A number of articles have been published about the impact of the shale gas boom in North America on the Middle East oil, gas and petrochemicals market. The United States is expected to export hydrocarbons in the coming years, who was once a major importer of the by product. The increased supply of cheap natural gas from the US market has changed the basic framework of the Middle East petrochemicals market. Also, the limitation of supplies from the region itself is a major threat to its energy production industry.
Nonetheless, the Middle East petrochemical’s industry has reaffirmed its commitment to emerge stronger, renewed by utilizing the available feedstock to its optimum, producing specialty chemicals and enhancing the quality of their existing products. According to recent reports, the GCC states are aiming to reach 25% of the global petrochemicals production capacity by 2025, by implementing the latest technologies and investing more and more in R&D, supply chain and infrastructure. As predicted by the Gulf Petrochemicals and Chemicals Association (GPCA), the GCC petrochemicals & chemicals capacity will increase to 191.2 m (tonnes/year) by 2020; a 50% increase from the 129.2m tonnes produced in 2012.
Fleming Gulf presents the 5th Annual Global Petrochemicals Technology conference, to be held in Dubai on the 4th and 5th of May, 2015, delving into these developing technologies that shape the future of the Middle East petrochemical sector. The event will have experts from leading companies such as SABIC, Shell, SINOPEC, SEEF and more, sharing there insights, experiences and strategies used to optimize the processes of their organisations.
The conference will focus on various alternatives and techniques such as integrating the refinery – petrochemical processes, looking for alternative feedstocks to meet the current challenges in feedstock availability and potentials of using carbon dioxide in the petrochemicals industry. Speakers will present on topics such as to help reduce feed stock consumption, using new strategies such as optimum catalyst selection and analyzing conditions under which the catalysts can be used to their maximum potential.
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