The petrochemical industry and governments must work to ensure that the industry has a successful future in Europe

摘要

Furope's petrochemical industry faces the biggest competitive challenge in its history, as leading petchem companies pour capital investment into high-growth emerging markets such as China, and into regions with cost-advantaged feedstock such as North America and the Mideast. Europe is saddled with relatively high energy and raw material costs, as well as burdensome environmental regulations, says Tom Crotty, EPCA president and Ineos group director. The future looks bleak, but the petrochemical industry has a chance to survive in Europe if the relevant authorities act to reduce the legislative burden and seize the opportunity to cut energy and feedstock bills by enabling exploitation of the region's unconventional hydrocarbon resources, which appear to be substantial, Crotty says. Industry and governments—at the European, national, and local levels— have a major role to play in establishing the necessary regulatory and business framework, he adds.