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Home » Shale Gas Boom in U.S. Has European Chemical Companies Concerned About Their Costly Processes

Shale Gas Boom in U.S. Has European Chemical Companies Concerned About Their Costly Processes

October 6, 2014
FuelFix

European chemical companies face greater pressure to rethink the way they do business if they want to compete against U.S. petrochemical plants, which are benefiting from vast new supplies of cheap natural gas created by technological advances in hydraulic fracturing and horizontal drilling, said Kurt Aerts, ExxonMobil Chemical’s vice president of global supply chain.

Doubts have been swirling over whether European chemical companies will be able to stay afloat, plagued by high prices, stringent regulations and new competitors in the United States.

The shale boom has been a “game-changer” for the chemical industry, Aerts said, touching off a petrochemical building spree in the United States, as companies scramble to expand and retrofit their plants to capitalize on the cheap feedstock. European companies, however, primarily run on naphtha, which is typically derived from crude oil and is much more expensive.

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KEYWORDS Business Strategy Alignment Chemicals & Energy energy industry Europe fracking FuelFix Global Supply Chain Management hydraulic fracturing Industrial Manufacturing naphtha North America petrochemicals Procurement Sourcing/Procurement/SCM Supply Chain Analysis & Consulting supply chain management: chemicals and energy Technology
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FuelFix

Shale Gas Boom in U.S. Has European Chemical Companies Concerned About Their Costly Processes

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