2013-09-22 08:59:44 - New Energy market report from Business Monitor International: "Azerbaijan Petrochemicals Report Q4 2013"
Azerbaijan is beginning to address major infrastructural constraints with a view to becoming a significant petrochemicals producer. Capacity utilisation at existing plants is restricted by lack of investment and maintenance, as well as the predominance of old and environmentally damaging technology. Projects outlined by the economy ministry are formulated based on prospective export markets. However, BMI believes that the industry is highly underdeveloped and there is a gap between the country's petrochemicals ambitions and available feedstock.
The petrochemicals sector will contribute significantly to the development of the non-oil economy, providing the basis of growth in downstream manufacturing as well as exports. It will also be able to move the country towards self-sufficiency in some segments, particularly polyethylene and methanol. This should
even out the impact of volatile oil output growth on the wider economy. Over the past quarter, BMI has revised the following forecasts/views:
Full Report Details at
- www.fastmr.com/prod/684649_azerbaijan_petrochemicals_report_q4_2 ..
* The new oil and gas processing and petrochemical complex (SOCAR OGPC) that promises to turn Azerbaijan into a net petrochemicals exporter is progressing, but is slipping behind schedule while costs have already risen by US$1.6bn up to US$14.2bn of net capital expenditures, yet construction has not started.
* The focus in 2013 will be on the new export-oriented 560,000 tonnes per annum (tpa) methanol production facility, which came onstream in Q113 and raised total methanol capacity in Azerbaijan to 720,000tpa. Around 90% of production will be sold abroad with the remainder utilised by non-oil sectors, including in the production of acetic acid (165,000tpa), formaldehyde (18,000tpa) and melamine (15,000tpa).
* Azerbaijan is in 16th and last place in BMI's proprietary Europe Risk/Reward Ratings (RRRs), with a score of 35.2 points, unchanged since the previous quarter. Azerbaijan is 5.5 points behind Ukraine.
Report Table of Contents:
BMI Industry View
- Table: Petrochemicals Sector, 2009-2017 ('000tpa, unless otherwise stated)
Industry Risk/Reward Ratings
- European Petrochemicals Risk/Reward Ratings
- Table: European Petrochemicals Risk/Reward Ratings (Scores Out Of 100)
- Azerbaijan Petrochemicals Risk/Reward Ratings
- Table: Cracker Capacity Data & Forecasts, 2009-2017 ('000 tpa)
- Table: Manufacture Of Petrochemicals Products, 2000-2011 ('000 tonnes)
Industry Trends And Developments
- State Oil Company Of Azerbaijan (SOCAR)
- Europe Overview
- Short-Term Outlook: Competitiveness And Pricing
- Looking Beyond Europe
- Shale Gas Boom To Change European Petrochemicals Outlook?
Global Industry Overview
- Global Industry Overview
- Short-term outlook: Prices Stabilising & Margins Improving
- Long-term growth
- Shale: The Future of Feedstock?
- Global Oil Products Price Outlook
- Crude Price Forecasts
- Table: BMI's Oil Price Forecasts, Average Price (US$/bbl)
- Product Prices Move Back Up But No Spikes Expected
- Narrower US Market Crude-Product Spreads
- Weak Demand Persists
- Table: BMI's Refined Products Forecasts, US$/bbl
- Supply: Supported By Global Refining Capacity
- Naphtha: Gas Renaissance Hits Demand
- Gasoline And Gasoil/Diesel: Subsidies & Fuel Efficiency Cap Upward Movement
- Jet Fuel: Slump Restricts Upward Movement
- Table: Total Air Freight And Passenger Volumes
- Bunker Fuels: No Rest To Downward Movement In Sight
- Demographic Outlook
- Table: Azerbaijan's Population By Age Group, 1990-2020 (% of total)
- Table: Azerbaijan's Key Population Ratios, 1990-2020
- Table: Azerbaijan's Rural And Urban Population, 1990-2020
- Table: Glossary Of Petrochemicals Terms
- Chemicals And Petrochemicals Industry
- Cross Checks
- Risk/Reward Ratings
- Table: Petrochemicals Risk/Reward Indicators And Rationale
- Table: Weighting Of Indicators
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