Qatar which is known as one of the largest liquefied
natural gas producer of the world has branch out its exports away from the oil
and gas sector and amid demand from
the region fuelling investment and expansion projects, Asia remains an
important driver of growth for petrochemical sector of Qatar. Moreover in
the Gulf region it is the second largest exporter of chemicals representing
17% of total chemical exports of Gulf Cooperation Council (GCC),as per
the Gulf Petrochemicals & Chemicals Association.
According to the Ministry of Development Planning and
Statistics, supplies of energy to widen their industrial bases are being used
by countries like Qatar and to enhance exports of non-energy goods such as
chemicals with petrochemicals and refining activity building up to 40% of
manufacturing output.
By the year 2020, plans are taking place to invest
around USD 25 billion in petrochemical capacity to produce 23 million tons, in
compare to the capacity 16.8 million tons produced in the year 2012, which clutches
the rights to market, sell and distribute chemical and polymer products of
Qatar globally, according to the industry experts.
As per the recent researched reports, one of the long-term
expansion plans has been embarked by the petrochemical industry, based on the
assumption that the demand from other emerging markets such as India and China
will continue to develop. Whereas the second major expansion process is the USD
6.5 billion Al Karaana plant, which is 80:20 joint venture between the
state-owned Qatar Petroleum and Shell, that is due to come on line in the year 2018.
The Al Karaana unit will have a production capacity of 2 million tons that will
add 25% petrochemical output to Qatar.
However, after an annulment of the USD 6 billion Al
Sejeel petrochemicals plant the long-term outlook is less certain but by the end
of the decade one of the megaprojects has been targeted to come on line.
According to the industry experts, in the medium term prospects for
petrochemicals producers are positive, that are helped by the rising demand and
the sluggish velocity of new capacity being brought on line in North America.
Moreover, the demand of for high-density polyethylene
has significantly increased above global GDP growth for a short time and Asia
is noted for the strongest demand growth. Whereas over the next five years the
demand growth for high density polyethylene in China is expected to
somewhat slow down and is still expected to be above 6%. Moreover the
unrelenting growth coupled with moderately few new capacity additions of China is
expected to impel rising exports in particularly from the Middle East.
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