Gulf’s total petrochemicals and chemicals export exceeded 65mn tonnes in 2014, compared to 36mn tonnes in 2006, according to EQUATE Petrochemical Company
The region exports 80 per cent petrochemical and chemical production, the company added.
At the 7th Gulf Petrochemicals & Chemical Association (GPCA) Supply Chain Conference 2015, EQUATE CEO Mohammad Husain said, “During 2013, the biggest export destination of the Gulf’s petrochemicals and chemicals was Asia with nearly 60 per cent, followed by Europe with almost 13 per cent.”
Husain went on to explain that despite increasing exports of petrochemicals, which form the second main source of income after petroleum for Gulf countries, the industry was still facing serious supply chain challenges relevant to port congestions, inadequate infrastructure and instability of market conditions.
“Thus, devising innovative solutions to overcome such challenges is a priority for this conference with the participation of GPCA members, industrial experts and Kuwait University,” he added.
The GPCA Supply Chain Conference is being held at Dubai’s Intercontinental Festival City from 3-5 May 2015. Themed ‘Strengthening the Supply Chain Backbone - Paving the Way Forward for 2020’, the conference has gathered top executives from petrochemical companies, ports, consultancies and customs authorities to explore strategies that improve accessibility to and from the GCC that help the region achieve its developmental goals.
