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Shell optimistic on Asia-Pacific region

28
May '08
Ben van Beurden
Asia Pacific is the most exciting region for petrochemicals, Shell Chemicals Executive Vice President Ben van Beurden told the Asia Petrochemical Industries Conference in Singapore.

Driven by rapid economic growth in very populous countries primarily China, but increasingly in India, too petrochemicals demand is soaring, making the region the focus for new capacity investments.

However, as regional petrochemicals development continues, the industry will face significant challenges relating to energy and feedstock availability and to climate change, particularly carbon dioxide emissions.

But Ben told delegates he is confident Asia Pacific's chemicals sector possesses the technological creativity and is attracting and nurturing the talent that together will enable these challenges to be met.

Ben underlined Shell chemicals companies' commitment to Asia Pacific, citing newly-completed and ongoing projects in Singapore and China.

He also mentioned plans under consideration for significant new manufacturing investments including a world-scale styrene monomer/propylene oxide project to strengthen Shell's regional product and service portfolio to meet customers' future needs.

By 2010 around 30% of Shell's chemicals manufacturing assets will be located in Asia Pacific and the Middle East, and focused primarily on supplying the burgeoning Asia Pacific market.

Shell believes the global petrochemicals industry must face three hard truths, Ben said. These include a likely doubling of energy demand by 2050, while conventional energy resources will become harder and more costly to access.


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