Kuwait considers investments in petrochem sector in Asia

08-Jan-05

Kuwait is mulling over the idea of investing in refining and petrochemicals sectors in Asia, as an avenue for long-term, secure, stable outlet for it's hydrocarbons. Kuwait has expressed an interest in creating additional refining capacity in Asia where growth in demand will exceed planned increased in refining capacity. Kuwait can participate in the development of Asia's oil and energy sector either by investments in joint ventures in the refining and petrochemical sector, or in projects that facilitate and improve logistics to make supplies available more efficiently and economically. The Asian region will constitute 50% of the global polymer consumption. While all Asian countries will continue to grow, China and India with their large population base would almost constitute 75% of the Asian demand. China’s juggernaut on the plastics manufacturing continues, but India is also catching up with almost 8-10% overall growth of plastics in 2004 as well as 2005.