2014-01-09 08:58:03 - United Arab Emirates Petrochemicals Report Q1 2014 - a new market research report on companiesandmarkets.com
Borouge is set to start operations at its new plants in Q114 at a time when Asia self-sufficiency is leading to a slowdown in export activity. Borouge 3 will add capacities of 1.5mn tonnes per annum (tpa) of ethylene, 960,000tpa polypropylene (PP) and 1.08mn tpa polyethylene (PE). The project also includes an 80,000tpa cross-linked polyethylene (XLPE) plant, which Borouge said will be a value-added complement to the 350,000tpa low-density polyethylene (LDPE) unit at the site. Unless external markets recover, the additional capacity will exacerbate the problems faced in 2013 when the industry was facing slowing Asian markets, moderating product prices and rising feedstock costs.
The UAE is likely to see tightening availability of ethane leading to a rise in feedstock costs.
This will be tempered by the used of mixed-feed crackers in future petrochemicals projects, which should make use of naphtha produced by the country´s expanding refining capacity. Major investment in offshore and onshore oil projects, as well as the development of new gas fields and downstream expansion, makes the UAE a focal point of activity in the region, with billions of dollars-worth of projects underway. This should alleviate some of the feedstock challenges the industry is facing as it expands capacity over the next five years.
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