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Can Aramco’s stake in Reliance open up new strategies for India’s MEG market?

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Aramco is demonstrating discipline in targeting strongly competitive assets that are well placed, through petrochemical integration, to be sustainable through the energy transition.

Alan Gelder, quoted in Chemical and Engineering News

What’s inside this report?

Saudi Aramco’s move to acquire a 20% stake in Reliance Industries’ refining and petrochemical business is just another step as it expands and diversifies its refining and petrochemical capacity in Asia.

Read our report for a deep-dive analysis of how the acquisition will affect the monoethylene glycol (MEG) market in India and globally.

We cover:

  • Supply and demand fundamentals for MEG
  • Our forecasts for MEG prices and margins in the next few years
  • The producer landscape: who’s at the top and bottom end of the MEG cost curve? And how does Saudi Aramco's acquistion change this?

16 August 2019

Can Aramco’s stake in Reliance open up new strategies for India’s MEG market?

Report summary

India’s Reliance Industries (RIL) is selling a 20% stake in its oil-to-chemical business to Saudi Aramco. While this deal would create synergies and have multiple implications for various petrochemical products, we have looked at what it does for the monoethylene glycol (MEG) market in India and globally. India is a net importer of MEG. The country’s total forecast demand in 2019 is 2.6 Mtpa, while local capacity is 2.3 Mtpa. The biggest MEG producer in India by far is RIL. Saudi Arabia on the other hand is the biggest exporter of MEG in the world, and is adjacent to India.

Tables and Charts included in the report

1. MEG capacity versus demand

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Tables and charts

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What's included

This report contains:

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    Can Aramco’s stake in Reliance open up new strategies for India’s MEG market?

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