Insight
European olefins: Porto Marghera steam cracker closure and wider market impact
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Report summary
As highlighted by Wood Mackenzie on 15 March 2021, the future of the ethylene plant in Porto Marghera, Italy is under discussion, with a closure of the steam cracker and associated aromatics plant looking to be the final outcome. Versalis originally decided to close the asset in 2014 and it remained offline for almost one year before restarting to supply Shell with olefins in Europe. From this point the asset has been operational and underwent a major turnaround in 2017. This insight will deploy our own olefins analytical tools (olefins supply/demand analytics and ethylene asset cost tool) to provide context and explore how the removal of this steam cracker from the European industry could impact olefins balances and trade flows. We will also highlight specific sites that are integrated to this asset or the wider Italian olefins and derivatives industry.
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