Home / Knowledge / News / Textiles / Latin American naphtha cracking projects put on hold
Latin American naphtha cracking projects put on hold
18
Jun '12
Several new naphtha cracking projects that were planned to be constructed in Latin American countries are either put on hold or being reviewed due to increased shale gas production in the US, which has attracted investments in new ethylene projects and increased the competitiveness of the US.
 
“Enhanced shale gas production in the US has definitely increased competitiveness of the country’s ethane derivates,” Mr. Raul Arias, Senior Consultant and Manager for Latin America at Nexant, told fibre2fashion.
 
“Many of the naphtha cracking projects in Latin America, which were planned prior to the global economic meltdown and the new shale gas scenario in the US, are under review or on hold,” he states.
 
Bolivia, Brazil, Colombia, Peru and Venezuela – all have active projects involving crackers (including those on hold or under review) or have made announcements of plans or agreements to evaluate one, according to Mr. Arias.
 
Comparing the scenario during pre and post global economic crisis, Mr. Arias says, “Before the global economic crisis rocked the world, the scenario was: no investments in the US naphtha cracking sector, the US was expected to become a net importer of ethane derivates, Latin America was making big plans based on cost-advantaged feedstocks and was looking North for exports.”
 
“Now, the scenario is: the US is aiming to become one of the most competitive producers of ethylene, and is building crackers and plants to produce ethane derivatives. It is also expected to soon look South, among other directions, for exports,” he adds.
 
ExxonMobil Chemical, Dow Chemical, Shell, Chevron Phillips Chemical and Formosa Plastics are among the companies that are setting up new naphtha cracking projects in the US.
 
Expansions or plant modifications in order to add ethane consumption capacity and increase ethylene production have been made by INEOS, LyondellBasell, Williams, Westlake and Nova.
 
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X