Petrochemical demand is to “grow three per cent annually between now and 2035”, according to Yousef A. Al-Benyan, SABIC acting vice chairman and CEO
Speaking at the Annual Forum of the Gulf Petrochemicals & Chemicals Association at Madinat Jumeirah, Dubai, Al-Benyan commented that the Middle East “needs to increase [its] competitiveness” in response.
In his opening speech, Al-Benyan stated that US shale gas providers are the most competitive in the world outside the Middle East, dubbing it the “shale era”.
He also remarked that petrochemical suppliers in the UAE face challenges of changing terms of global trade and major trade agreements.
The event celebrated its 10th anniversary when it took place on the 17-19 November. Gulf Petrochemicals and Chemicals Association (GPCA) described the forum its “flagship event” in Dubai.
Al-Benyan is the acting vice president and CEO of the Saudi Basic Industries Corporation, the second largest diversified petrochemicals company in the world.
GPCA tweeted, “A big thanks to all the speakers, sponsors, exhibitors & delegates who made the 10th edition of #GPCAForum a success.”
Other speakers at the event included Neil Chapman, president of the ExxonMobil Chemical Company, and Patrick Thomas. chairman of the board of management at Covestro AG.
