Can Europe face the Middle East threat?

Hariharan, Malini; Baker, John
September 2005
Asian Chemical News;9/19/2005, Vol. 11 Issue 507, p14
Trade Publication
This article assesses the implications of the accelerating investment in the Middle East petrochemicals industry for the European petrochemicals sector as of September 2005. Accelerating investments in the Middle East to serve growing Asian markets and consolidation in Europe and the U.S. are two key issues for the global petrochemicals sector. Recovery towards the top of yet another industry cycle has prompted a new wave of cracker and derivative investments in the feedstock-rich Middle East, involving projects in Saudi Arabia, Kuwait, Qatar, Oman, Abu Dhabi and Iran. Walter Thuenker, president of the European Petrochemical Association, sees the situation as a dynamic one, with the outcome from the various tensions depending on global economic developments.


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