27 Jan 2020
Posted in Oil & Gas
ExxonMobil to lead global ethylene capacity additions by 2030, says GlobalData
ExxonMobil is expected to lead global planned and announced ethylene capacity additions between 2019 and 2030, contributing around 5% of the global growth by 2030, according to GlobalData, a leading data and analytics company.
The company’s report, ‘H2 2019 Global Ethylene Capacity and Capital Expenditure Outlook – China Leads Globally in Terms of Planned and Announced Ethylene Capacity Additions’, reveals that Exxon Mobil 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.
Dayanand Kharade, Oil and Gas Analyst at GlobalData, says: “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.”
Kharade continues: “GlobalData identifies Saudi Arabian Oil Co as the second highest capacity contributor among global companies for planned and announced ethylene capacity additions by 2030. The announced project, Motiva Enterprises Port Arthur Ethylene Plant, is expected to account for the company’s highest capacity additions by 2030, and the project is expected to start operations in 2024, with a capacity of 1.5mtpa. Sibur Holding stands third, contributing a capacity of 3.80mtpa from two planned and announced projects by 2030.”