Qatar
which is one of the richest state per-capita in the world and as per the year
2012 the country has established nearly 15 billion barrels of oil reserves and
around more than 5% of gas fields of the global resource. In terms of its petrochemicalindustry, Qatar is at second position in the midst of Gulf Co-operation
Council (GCC) countries. Moreover for the country the petrochemical industry is
a key source of hard earning which ranks behind the crude oil and the
liquefied natural gas (LNG) sectors.
According to the
industry experts, over next 5-10 years the country has a greater petrochemical
expansion plans than any other country in the region and the expansion of the
petrochemical industry will bring in growing revenue and produce numerous new
jobs in the coming years.
According to the
industry experts, in the petrochemical industries the country is taking good
steps to prolong their success and with this it is taking action against
the potential threats from the international souk. Moreover at the same time
from low cost shale gas as a feedstock, most of the US manufacturers are
gaining benefits as these will make the US the cheapest place in the world to
produce petrochemicals.
In the coming years
the US tactics to spend around USD 100 billion in the petrochemical facilities
and it much prone to flow into the Asian market once the product starts to come
on-stream by setting it in an unswerving competition with the product from the
Middle East.
According to the
sources, the current production of petrochemicals in the small nation state
intends to boost surplus twice in order to reinforce its traction in the
industry. Moreover in the Gulf region the construction of the two largest
petrochemical projects is at present on track and due to the high outlay of
these projects the government remains the largest shareholder in petrochemical
investments.
In past few years
the petrochemical industries in Qatar have seen a noteworthy rise and most of
the Petchem companies based in this country have a few really big decisions in
front of them as they are facing the choice of defending their markets in Asia
against the low cost US product in the midst of a budding impact on price and
margin.
Furthermore for the development and
expansion of the chemical and the domestic petrochemical industries, the
country plans to invest around USD 25 billion and in the year 2012 major
petrochemical manufacturers Shell oil companies and the Qatar
Petroleum had affirmed the plan to build up an olefins project in Ras
Laffan Industrial City at a total outlay of USD 6.4 billion.
A good set of information regarding the expansion of petrochemical industry that is scheduled in Qatar..!!
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