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Follow on Google News | New market study, "Qatar Petrochemicals Report Q4 2010", has been publishedRecently published research from Business Monitor International, "Qatar Petrochemicals Report Q4 2010", is now available at Fast Market Research
ExxonMobil is reportedly considering withdrawing from the next planned cracker project at Ras Laffan, while South Korea's Honam Petrochemical has ended months of speculation and announced that it was indeed withdrawing from its joint venture (JV) with Qatar Petroleum (QP) due to a steep increase in costs, poor availability of project finance and the global economic crisis. The capacities envisaged by the Honam-backed complex were substantial, including 1.05mn tpa ethylene, 700,000tpa PP and 220,000tpa PS. Meanwhile, the status of a major Shell-QP cracker and derivatives complex in Ras Laffan is also unclear - five years after a letter of intent was signed, some reports suggest that start-up has been pushed forward as far as 2015, from earlier predictions of 2011-2012. Coming onstream a year late due to the global economic crisis and a tight construction market, the Ras Laffan Olefins Company (RLOC) - made up of Q-Chem II (53.3%), Qatofin (45.7%) and QP (1%) - inaugurated a 1.3mn tpa ethylene plant in May 2010, the largest ethane cracker in the world. The Ras Laffan cracker supplies both the Q-Chem II petrochemical complex and Qatofin's 450,000tpa LLDPE plant, both in Mesaieed, which was opened in November 2009. The cracker will also supply ethylene to HDPE and alpha-olefin plants being built by Q-Chem II that are due for completion in H210. Only 10% of RLOC's output will be consumed on the domestic market, with around 35% of the HDPE output exported to Europe and Africa and 55% to Asia. In line with this investment, Qapco has launched an expansion project in Mesaieed Industrial City to set up its third PE production line, LDPE-3, adding 300,000tpa to Qapco's output of LDPE, augmenting overall annual LDPE production to 700,000 tonnes by the end of 2011, reportedly a year behind the original schedule. Qatari production will grow rapidly at a rate of 7.5% in 2010, compared with forecast global growth of 4.5%. However, the collapse of the Honam JV means that Qatar will remain without PP or PS facilities for the foreseeable future. While producers have reduced PS capacities globally due to its falling popularity, failure to proceed with production of PP means that Qatar will be unable to tap into the rapid growth in this segment. Qatar's decision to press ahead with LDPE also appears to be misjudged, given the slow rate of growth in this segment as transformers switch to improved LLDPE and PP grades as alternatives. PVC is also absent from current expansion plans, which means the country will be unable to take full advantage of the expected recovery in the construction industry worldwide. For the time being, Qatar will export VCM and EDC to Asia. Despite the setbacks, Qatar retains its second place in the rankings for Middle East and Africa with 63.4 points, down 0.2 points since the previous quarter due to a decline in its country risk rating. This puts it ahead of the UAE and behind Saudi Arabia. Qatar's progress in raising its petrochemical capacity could still falter due to rising construction costs and tightening lending conditions. Nevertheless, Qatar's petrochemical- For more information or to purchase this report, go to: - http://www.fastmr.com/ Partial Table of Contents: Executive Summary SWOT Analysis - Qatar Petrochemicals Sector Industry SWOT - Qatar Political SWOT - Qatar Economic SWOT - Qatar Business Environment SWOT Global Overview - Petrochemicals Market Overview - Table: World Ethylene Production By Country, 2009 And 2014 ('000 tonnes capacity) - Financial Results - Table: Financial Results Of Major Petrochemicals Companies, 2009 - Global Oil Products Price Outlook - Table: Oil Product Price Assumptions, Q409-Q410 (US$/bbl) - Table: Oil Product Price Data And Forecasts, 2007-2014 (US$/bbl) Qatar Market Overview - Table: Qatar's Petrochemical Plants Industry Trends And Developments - Downstream Developments - Olefins - Derivatives - Table: Upcoming And Recent Projects - Fertiliser - Qatar-China Relations - Financial Developments Business Environment - Petrochemicals Business Environment Ratings - Table: Central And Eastern Europe Petrochemicals Business Environment Ratings - Qatar's Foreign Investment Policy Industry Forecast Scenario - Table: Qatar's Petrochemicals Sector, 2007-2014 ('000 tpa unless otherwise stated) - Macroeconomic Outlook - Table: Qatar - Economic Activity, 2007-2014 Company Monitor - Qatar Chemical Company (Q-Chem) - Qatar Fertiliser Company (Qafco) - Qatar Fuel Additives Company (Qafac) - Qatar Petrochemicals Company (Qapco) - Qatar Plastic Products Company (QPPC) - Qatar Vinyl Company (QVC) Country Snapshot: Qatar Demographic Data - Section 1: Population - Table: Demographic Indicators, 2005-2030 - Table: Rural/Urban Breakdown, 2005-2030 - Section 2: Education And Healthcare - Table: Education, 2002-2005 - Table: Vital Statistics, 2005-2030 - Section 3: Labour Market And Spending Power - Full Table of Contents is available at: -- http://www.fastmr.com/ About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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