Historically, ethylene producers in the Middle East have enjoyed a tremendous feedstock price advantage over their global competitors. With tightening supplies, the historical price advantage is also gradually narrowing. Further, the explosion of the US shale gas market has opened new competitive fronts, which until a few years back were not even a consideration.
These scenarios are compelling regional industry leaders to redefine their business strategies and seek advancements in process technology to regain their competitive edge.
Official AIChE Publication: