16 Dec 2021
Posted in Oil & Gas
Strong petrochemicals demand drives projects’ starts in Malaysia through 2025, forecasts GlobalData
Malaysia is likely to witness start of operations of 31 petrochemicals projects from 2021 to 2025 driven by robust demand for petrochemicals, according to GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Global Petrochemicals New-Build and Expansion Projects Outlook, 2021-2025’ reveals that out of 31 projects expected to commence operations in Malaysia, polyethylene projects would be at three, followed by polypropylene and benzene with two each.
Bhargavi Gandham, Oil & Gas Analyst at GlobalData, comments: “Petrochemicals consumption is on the rise in Malaysia leading to supply-demand mismatch. This is leading to growth in investments and establishments of joint ventures to boost petrochemicals capacity in the country.”
Among the upcoming polyethylene projects, the PETRONAS Pengerang Polyethylene Plant 2 leads with a production capacity of 0.40 mtpa. It is followed by PETRONAS Pengerang Polyethylene Plant (Swing), with a capacity of 0.35 mtpa. Both the projects are in the commissioning stage.
GlobalData also notes that the two upcoming polypropylene projects, the PETRONAS Pengerang Polypropylene Plant 1 and the PETRONAS Pengerang Polypropylene Plant 2, have production capacity of 0.45 mtpa each. Both of these projects are also in the commissioning stage.
Of the two upcoming benzene projects, the Pengerang Energy Complex Pengerang Benzene Plant would lead with a capacity of 0.59 mtpa. The project has received the plan approval and is expected to start operations in 2024. It is followed by PETRONAS Pengerang Benzene Plant with a capacity of 0.17 mtpa.