Europe short of C5, C9 streams.

摘要

The switch by US steam crackers to ethane-propane (EP mix) feedstocks is by now a generally well understood phenomenon, particularly in terms of the reduced propylene output that results from cracking ethane instead of naphtha, and the investment in propane dehydrogenation that has been the result. According to a report from IHS Chemical, however, it is also important to take a close look at ethane cracking's impact on Europe. According to the report, some 10MM mt/y of propane dehydrogenation capacity and another 300K mt/y of butane dehydrogenation capacity additions have been announced worldwide in order to replace the propylene and butadiene that crackers are no longer making because of the switch to the EP mix. This switch, however, has also resulted in lower pyrolysis gasoline output, creating shortages in the C5 and C9 petrochemical streams. While this shortage is said to be already impacting European PC firms, IHS says that the pressure will worsen oyer the next five years, as the consultancy expects that some 1.2MM mt/y of naphtha-based ethylene capacity will close in Europe over that time. Those shutdowns include the already-announced closures of Versalis 450K-mt Porto Marghera, Italy plant, and Total's 340K-mt/y Carling, France cracker. As a result, IHS said, C5 and C9 stream availability in Europe will likely fall by 20-25% within five years and perhaps as soon as two.