Episode 1089: Think Tank: New ‘supermajors’ will dominate chemical industry
A new wave of record-breaking sized cracker projects based on technologies such as crude oil to chemicals (COTC) signals the emergence of ‘supermajors’ who may dominate the industry. - COTC produces huge volumes of low-cost chemicals- COTC being developed in Middle East, China, South Korea- “Supermajors” will harness low carbon technologies - Options include electric furnaces, carbon capture and storage (CCS)- Cost-advantaged ethane projects springing up in Abu Dhabi, Qatar, North America- Disadvantaged regions such as Europe can invest in hydrogen, CCS, recycling, renewables