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BMI: United Arab Emirates Petrochemicals Report (Feb-12)

2012-03-23 13:06:00 (читать в оригинале)

Abu Dhabi is on course for massive expansion in its olefins and polyolefins capacities, paving the way for more product diversification particularly in the propylene chain, according to BMI?s UAE petrochemicals report.Borouge expects the expansion of its polyolefins complex in Ruwais, Abu Dhabi, to be fully onstream in mid-2014, following completion of construction by end-2013. In Q112, the Borouge 3 expansion was in the engineering, procurement and construction stage and on track as planned, although start-up dates for individual units was still unknown. It will add capacities of 1.5mn tpa ethylene, 960,000tpa PP and 1.43mn tpa 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 LDPE unit at the site.The UAE?s petrochemicals industry will benefit from the rapid expansion of capacities in highly integrated, state-of-the-art complexes, but will be limited by the narrow product range and lack of downstream diversification. Key issues going forward are the effect of spreads between naphtha and ethane and the strength of the Chinese market. While ethane may be cheaper going forward, its heavy use of naphtha in its feedstock mix will put the UAE in a better position than Qatar and Saudi Arabia to diversify downstream production. The decline in Chinese imports and narrowing of the petrochemicals trade surplus is also related to an increase in domestic capacities as the country strives to improve selfsufficiency.BMI has previously warned that the UAE will face an increasingly competitive Chinese market and over the medium-term, the trend is likely to continue. In BMI?s Middle Eastern petrochemicals business environment ratings matrix, the UAE has a score of 63.7 points. It has jostled with Kuwait for third place, but while the UAE has undergone massive expansion, Kuwait has suffered as a result of policy reversals in the refining and petrochemicals sectors, which ha