Boston, MA -- (SBWIRE) -- 05/23/2014 -- BMI's latest Kazakhstan and Uzbekistan petrochemicals report provides detailed analysis of planned projects in these two hydrocarbons-rich countries, which represent virgin territory for the global petrochemicals industry. The report assesses market size and potential as well as the latest trends in output at established facilities. It also details the strategies employed by leading players in the region as they seek to overcome relatively high infrastructural and political risks.
Kazakhstan's vast oil and gas resources reflect latent potential for rapid and significant expansion of petrochemicals facilities over the medium to long term, while Uzbekistan hopes to maximise the value of its gas potential through increased supply to the petrochemicals segment.
The development of Kazakhstan's petrochemicals industry will come from foreign partnerships participating in a mixture of world-scale greenfield developments, as well as the rehabilitation and modernisation of existing facilities. Progress was being made in 2012, with LG Chem entering into a formal agreement to build KPI's ethane-fed petrochemicals complex in Atyrau - with capacities of 800,000 tonnes per annum (tpa) ethylene and 800,000tpa polyethylene (PE) by 2016. The site will also feature a propane dehydrogenation unit with 500,000tpa of propylene capacity and a 500,000tpa polypropylene (PP) unit as well as an aromatics project with 133,000tpa benzene and 496,000tpa paraxylene. The development of Uzbekistan's petrochemicals industry is constrained by the relatively poor business environment. A gas-fed complex is planned for a site at Akchalak with capacity to produce 400,000tpa of ethylene and downstream units with capacity for 400,000tpa high density polyethylene (HDPE) and 100,000tpa PP.
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BMI has made the following observations and forecasts:
- Combined ethylene capacity in Kazakhstan and Uzbekistan is expected to expand from 240,000tpa in 2012 to 1.42mn tpa by 2016 upon the completion of the KPI complex. Polymer capacity in the region is set to rise from 465,000tpa to 2.35mn tpa as a result of the development of such complexes.
- Plans to bring onstream a small polyvinyl chloride (PVC) plant in Uzbekistan have been repeatedly delayed, prompting us to exclude it from our five-year forecasts; however, it looks as if construction may go ahead by 2016.
- Although planned petrochemicals production in Uzbekistan is likely to be smaller than in Kazakhstan, BMI believes it will be more dependent on exports, with the economy expanding at a slower rate and the country having a smaller market relative to Kazakhstan.
- Kazakhstan's domestic market is set to accelerate due to rapid industrialisation and growth in consumer demand.
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