TAKING THE PETRO OUT OF PETROCHEMICALS OLD FEEDSTOCK OPTIONS REVISITED

摘要

One hundred years ago, most non-fuel industrial products, including chemicals were made from biomass (plants, trees and vegetables) or coal / coal tars. Since then, industrial chemical production has been dominated by petroleum based feedstocks. More recently, high oil and gas prices, dwindling domestic reserves and growing demand for transport fuels and chemicals in rapidly growing or large established economies such as the U.S., China and India have refocused attention back on these "old" feedstocks. Moreover, environmental concerns have resulted in mandated legislation for "renewable content" in fuels that are focusing efforts on improving the technologies and cost position for chemicals used as fuels (e.g. ethanol and biodiesel). Coal's abundance, relatively low pricing / price volatility and developments in technologies that improve its cost position and environmental performance are supporting trends. While coal's reputation as a "dirty" fuel in the West is slowing its penetration, realities suggest that it will become a larger share of the future global energy mix with corresponding impacts on chemical feedstocks. The implication for chemicals is becoming clearer. The political and technological advancements for coal and biomass will offer chemical producers alternatives other than traditional petroleum feedstocks. This paper will address the current issues facing chemical producers interested in diversifying and expanding by utilizing the two primary alternative feedstock alternatives to traditional petroleum feedstocks, biomass and coal. It will examine the economics associated with their use and explore the realities of the technologies available today and highlight the associated issues driving or inhibiting their use into chemicals. Finally, it will provide a brief economic snapshot and investment comparison of a coal-to-polyolefins facility in China vs. Middle East E/P cracking and liquids cracking in China.