Novotel Singapore Clarke Quay
Sinopec Corp has proposed for the development of its first gas-based petrochemical complex, a $3.1 billion ethylene plant in east China. The Qingdao complex will be using natural gas and LPG as petrochemical feedstock, which comprises of a likely 50-50 mix of imported natural gas from US and locally-produced LPG from Sinopec’s refinery.
The complex is estimated to take three years to build and will help to cushion the impact of US’ shale gas boom and reduce the cost of ethylene production in Asia - a typically naphtha-fed crackers region. Meanwhile, local Chinese and regional players are looking forward to the successful development of shale gas potential in China. Currently, a replication of the shale gas boom in China remains a complicated one as geology complexity and water scarcity present technological and environmental challenges albeit a possible large shale gas reserve.
Be it shale gas, LPG or naphtha-based petchem, global industry players remain alert on international and regional feedstock developments, especially shale gas developments in China as the revolutionary feedstock may bring about a wave of evolving trends across the Asian and global market.
Market leaders and industry majors are set to convene in Singapore on September 26-27, 2013 at the 20th Asia Petrochemical Summit for timely updates on the market dynamics, forecasts on opportunities and challenges, as well as network with top executives of major leaders.
More information on the 20th Asia Petrochemical Summit is available on the Event Page.
For inquiries, please contact Ms. Huiyan at email@example.com or Tel. +65 6346 9113.
09 Jul, 2013
While the US energy and chemicals sectors cheer and celebrates the shale gas revolution, Asian and Middle Eastern petrochemicals players are feeling the pressure on their naphtha-based sector. Cheap shale gas-derived ethane is directly impacting on Asia’s and Middle East’s high-cost naphtha-based petrochemicals industry, creating an increasingly competitive environment for the Asian and Middle Eastern players.
By-products from shale gas and naphtha are used in downstream plastics and fiber sectors, such as in the making of toys, shrink wraps, food packaging, grocery bags and etc. With naphtha-derived ethylene cost standing at three times higher than that of shale gas’, the Asian and ME players are likely to go into a downward spiral fiery with shale gas-based US petchem sector. Staying cost-competitive against the blooming US sectors will only get tougher and a shift in production strategy is likely in the next few years.
At CMT’s 20th Asia Petrochemical Summit held in Singapore on September 26-27, industry leaders will look into trends and key challenges in China, India, South Korea, ASEAN and Middle East. Top executives from upstream/downstream petchem industry are set to attend the annual summit for a deeper analysis and market forecast of the Asian petchem market.
For more event details or enquiries, please contact Ms. Huiyan at firstname.lastname@example.org or Tel. +65 6346 9113.
07 Jun, 2013