Episode 1409: Think Tank: ExxonMobil Scotland closure highlights need for new strategies to save Europe petrochemicals
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Episode 1409: Think Tank: ExxonMobil Scotland closure highlights need for new strategies to save Europe petrochemicals
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About this listen
The decision by ExxonMobil to close its ethane cracker in Scotland shows there is a need for faster action by lawmakers across Europe and more innovative thinking to safeguard the region’s chemical industry.
- ExxonMobil to close its 830,000 tonnes/year, ethane-fed Fife Ethylene Plant
- Questions over availability of North Sea ethane to feed the plant
- Around $1 billion investment reportedly needed to revamp plant
- Rising defence spending offers opportunities
- Chemicals can switch to more technical and service-based products
- INEOS preparing anti-dumping duties cases to protect its business
- Europe must fight for its innovation advantage, other regions getting stronger
- Aging population in Europe is a drag on demand
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