Ethylene glut does not deter ExxonMobil, start up of Singapore petrochemical plant on schedule

Despite the current glut in ethylene supplies amid weakening buying sentiments and outlook, ExxonMobil will not delay the start up of its new petrochemical plant in Singapore. The ethylene cracker on Jurong Island has a capacity of 1 mln tpa. "We are into long-term investments. The petrochemical industry goes through many cycles. We cannot predict the cycles” said ExxonMobil's senior vice president Andrew Swiger. Other capacities coming online in Asia will augment the region’s ethylene capacity by 6.3 mln, to 48.33 mln tpa. China will account for over 2 mln tons of this resulting in greater self dependence and a reduction in imports. Shell’s 800,000 tpa cracker as well as Map Ta Phut Olefins Co’s 900,000 tpa cracker came online in March.
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