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Mar. 28, 2008 | Middle East Styrene Producers Threaten NA Producers The Middle East will replace North America as the top styrene provider to Europe and Asia when new Mideast production capacity comes online, an INEOS NOVA executive said on Thursday.Steve Harrington, vice president for global styrene business at INEOS NOVA, said Middle East producers will take the lead on the basis of their lower feedstock and energy costs. Speaking at the World Petrochemical Conference, sponsored by Dewitt & Co, Harrington said the rise of Mideast styrene capacity also would bring about lower operating rates in North America. For the near term, however, North American styrene operating rates should remain relatively high due to plant turnarounds, Harrington said. In addition, lower feedstock ethylene has opened arbitrage between North America and Europe. North American ethylene uses natural gas as a feedstock while Europe relies on naphtha. |
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