In an interview, Colin Chapman, President of Euro Petroleum Consultants with Chemical Today Magazine delves into the growth prospects of oil & gas chemicals in the global market.
By Debarati Das
Trends in oil & gas chemicals and petrochemicals segment.
Supply and demand factors have been re-shaping the petrochemical market, the most influential were availability of unconventional gas in the North America and high demand for oil and petrochemicals in the Asia Pacific, spearheading the expansion of the industry.
USA has shown the most significant growth due to the shale boom, mainly in new gas processing, GTL plant capacity, ethylene, methanol and ammonia plants. Low ethane prices have triggered a revival of the US petrochemical sector - a substantial number of petrochemical plants have been built and new projects are in the pipeline.
Read More: Treading through shores of opportunities
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