London: Gulf Cooperation Council (GCC) states are planning to increase their share of petrochemicals' production in the global market, upto 25 per cent in 2025, but are wary of the many challenges they face.
The Gulf petrochemical industry has witnessed a strong revival over the years, reinforcing its position as a global key resource. Production increased from about 50 million tonnes in 2004 to more than 100 million metric tonnes currently, ranging from chemical products to fuel additives, polyvinyl and aromatics.
In order to support the petrochemicals sector in the Gulf, and to align the efforts to find a sophisticated strategy for the petrochemical industry in the region, the Gulf Organisation for Industrial Consulting (GOIC), in cooperation with the IEC, will organise a workshop titled 'Petrochemicals: Key issues and strategy', from August 26 to 27, at the Rosewood Hotel in London.
The workshop aims to provide a platform to decision-makers in the Gulf petrochemicals sector to exchange ideas in order to face the challenges of the future. The participants, using their expertise in long-term planning, will be able to develop strategic options to effectively develop the petrochemicals sector. This will further enhance the role of the GCC states in the global market and increase their contribution to the economic prosperity in the region.
The workshop targets senior management and senior staff of the industrial sector in GCC, as well as investors, senior advisers from the public and private sector, and workers close to the decision making process in the petrochemicals and related industries.
During its two-day workshop, it will shed light on the Gulf petrochemicals sector where the GOIC will provide an overview of the industry. The sessions will then address the plenary topics, including strategic energy issues, raw materials and demand for petrochemicals, in addition to major regional issues related to refineries.
A major source of petrochemicals based on 'steam cracking' will be discussed at the workshop. The advantages and disadvantages of the main petrochemicals production from other sources will also be tackled.