ExxonMobil is expected to lead global planned and announced ethylene capacity additions between 2019 and 2030, according to a new report from data and analytics company GlobalData.
Such additions will contribute to around 5% of the global growth by 2030, the report suggests.
It reveals that ExxonMobil Corp is expected to add a capacity of 5.10 million tonnes per annum (mtpa) from six planned and announced projects by 2030. Of these, three are planned projects and the remaining are announced projects; capacity additions will primarily be made in China and the US.
Dayanand Kharade, Oil and Gas Analyst at GlobalData, affirmed, “ExxonMobil is set to have large ethylene capacity additions primarily in China and the US. The company is investing in the US to take advantage of the abundant low-cost feedstock. The company is investing in three ethylene crackers and derivative plants in China, with aim to meet expected domestic demand growth and also take advantage of lower construction cost.”
Ethylene is an essential refrigerant for large-scale LNG plants, used to liquefy natural gas through successively cooled heat exchangers. The LNG is then pumped into insulated storage tanks where it remains until shipment.
The report, titled H2 2019 Global Ethylene Capacity and Capital Expenditure Outlook – China Leads Globally in Terms of Planned and Announced Ethylene Capacity Additions, identifies Saudi Arabian Oil Co. as the second-highest capacity contributor and points to its Motiva Enterprises Port Arthur Ethylene Plant as a particular example of expected new capacity.
Read more like this – subscribe today
Enjoyed this story? Subscribe to gasworld today and take advantage of even more great insights and exclusives in industrial gases.
Visit www.gasworld.com/subscribe to access all content and choose the right subscription for you.