2013-09-15 09:29:30 - Recently published research from Business Monitor International, "Qatar Petrochemicals Report Q4 2013", is now available at Fast Market Research
The Qatari petrochemicals industry is witnessing strong growth as capacity expands, even in the face of a global economic slowdown and threats of escalating feedstock costs. Continued growth demonstrates the confidence the Qatari industry has in future prospects, although BMI warns that planned diversification will not be sufficient to ensure the sector can reap the full benefits of expansion.
Petrochemicals production in Qatar hit 16.8mn tonnes in 2012, up 5.5% y-o-y, making it the second-largest producer in the GCC downstream sector, after Saudi Arabia. This compares favourably with 2.6% global growth, which represented a decline from 3.8% growth in 2011. The rate of growth in Qatar was in line with the GCC average; the Arab Gulf states saw capacity rise 5.5%,
to 127.8mn tonnes, in 2012.
Full Report Details at
- www.fastmr.com/prod/671035_qatar_petrochemicals_report_q4_2013.a ..
Over the next decade, Qatar plans to spend US$25bn on expanding its domestic petrochemical industry. It also intends to more than double its annual petrochemical production capacity - from 9.2mn tonnes to 23mn tonnes - by 2020. Upcoming projects include the development of a large petrochemicals complex in Ras Laffan by Qatar Petroleum and Qatar Petrochemical Company (QAPCO). An olefins project, valued at US$6.4bn, is also in development by QAPCO and Shell. QAPCO plans to expand the production capacity of its cracker, enabling it to produce up to 1mn tpa of ethylene.
BMI notes the following developments in Qatar's petrochemical industry:
* The recently completed RLOC cracker is set to expand, while ExxonMobil's joint venture (JV) with QP will lead to the construction of an ethane-fed cracker with capacity of 1.6mn tonnes per annum (tpa) ethylene and downstream units, including two 650,000tpa polyethylene (PE) plants and a 700,000tpa ethylene glycol unit, due for completion by 2016.
* QAPCO's plan to expand its facilities and increase its production capacity to around 5mn tpa by 2019 is on track or even ahead of schedule. In 2012, QAPCO invested US$5bn in setting up a new petrochemical complex, which would double the company's production capacity.
* Qatar's petrochemicals-specific ratings are strong, with cracker capacity set to increase significantly over the next five years and the country hosting the second-largest polyolefins production capacity in the Gulf Cooperation Council (GCC), after Saudi Arabia. Qatar is now ranked fourth in the region, with an overall score of 60.4, down 0.2 points and down one place since the previous quarter, due to a deterioration in its Market Risk score. This puts it 0.1 point behind Kuwait and 3.6 points behind the UAE.
Report Table of Contents:
BMI Industry View
- Business Environment
- Table: Qatar's Petrochemicals Sector, 2010-2017 ('000 tpa, unless otherwise stated)
- Macroeconomic Forecast
- Table: Qatar - Economic Activity
Industry Risk Reward Ratings
- Middle East And Africa Petrochemicals Risk/Reward Ratings
- Africa Coming Into View As Gulf States Mature
- Arab Spring Takes Its Toll
- Regulatory Framework Dictates Risks
- Table: MEA Petrochemicals Risk Ratings
- Qatar Petrochemicals Risk/Reward Ratings
- Table: Qatar's Petrochemical Plants
- Table: QP Subsidiaries and JVs In Petrochemicals
Industry Trends And Developments
- Upstream Developments
- Foreign Presence
- Qatar Petroleum
- Qatar Chemical Company (Q-Chem)
- Qatar Fertiliser Company (Qafco)
- Qatar Fuel Additives Company (QAFAC)
- Qatar Petrochemicals Company (QAPCO)
- Qatar Plastic Products Company (QPPC)
- Qatar Vinyl Company (QVC)
- Middle East And Africa Overview
- Looking to Asia
- Diversification is the Long-Term Focus
- African Growth Focused in the North
Global Industry Overview
- Global Industry Overview
- Short-term outlook: Prices Stabilising & Margins Improving
- Long-term growth
- Shale: The Future of Feedstock?
- Global Oil Product Price Outlook
- Crude Price Forecasts
- Table: BMI's Oil Price Forecasts, Average Price (US$/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
- Table: Table: Qatar's Population By Age Group, 1990-2020 ('000)
- Table: Table: Qatar's Population By Age Group, 1990-2020 (% of total)
- Table: Table: Qatar's Key Population Ratios, 1990-2020
- Table: Table: Qatar'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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