In Focus: Ethylene asset benchmarking tool Report

Insight 01 April 2024

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Report summary

Welcome to In Focus, which forms part of the ethylene asset benchmarking tool service. Here our team of global ethylene experts keep you informed with key analysis concerning ethylene asset developments. We will add thought around topics such as: project status changes; asset feedstock adjustments; expansions or closures, M&A and much more. For additional discussion beyond the commentary below, please feel free to reach out to one of our qualified analysts for more information. For further insight on ethylene assets around the world, navigate to the ethylene asset cost tool - The ethylene asset cost tool enables the user to view detailed asset level commercial information on the ethylene industry. It combines Wood Mackenzie's leading analysis from NGL, refining, coal and chemical services.

Idemitsu Kosan and Mitsui Chemicals deliberate cracker closure in Chiba
- Catherine Tan, Chong Kai Sen, 1 Apr 2024
- Key points:
- Final thoughts:
Zhejiang Petrochemical to debottleneck ethylene production capacity by 600 ktpa
- Kelly Cui, Chong Kai Sen, 21 Feb 2024
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SABIC announces FID on SABIC Fujian Petrochemical Complex
- Kelly Cui, Frida Cheng, 02 Feb 2024
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Dow Fort Saskatchewan: charting a path to net-zero carbon emissions
- Shruthi Vangipuram, 20 October 2023
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Future of INEOS Project One in doubt as permits cancelled
- Mohamed Chilmeran, Kieran Garland, 25 July 2023
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The economics of US ethane imports for GAIL India
- Catherine Tan, Kai Sen Chong, 27 June 2023
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Sinopec Hainan achieves on-spec ethylene production
- Kai Sen Chong, Kelly Cui, 28 February 2023
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PetroChina Guangdong starts up 1.2-Mtpa steam cracker
- Kelly Cui, Kai Sen Chong, 16 February 2023
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- Final thoughts
Chevron Phillips Chemical and QatarEnergy’s new Texas facility to add 2Mtpa ethylene capacity
- Siddhant Warrier, Shruthi Vangipuram, 2 Dec 2022
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- Final thoughts
Sinopec announces permanent shutdown of its 200-ktpa steam cracker in Tianjin
- Chong Kai Sen, 31 Aug 2022
- Key points
- Final thoughts
Versalis confirms permanent closure of Porto Marghera, Italy steam cracker
- Patrick Kirby, 05 May 2022
- Key points
- Final thoughts
ADNOC and Borealis break ground on Borouge 4 project in Ruwais, UAE
- Patrick Kirby, 11 February 2022
China’s Sinopec Zhenhai 1.2-Mtpa phase II cracker starts up
- Kelly Cui, 12 January 2022
- Key points
- Final thoughts
INEOS ethane cracker in Antwerp, Belgium gets the green light
- Patrick Kirby, 17 December 2021
- Key points
- Final thoughts
Russian ethylene project developments
- Patrick Kirby, 24 November 2021
- Key points
- Final thoughts
Global circular feedstock developments
- Patrick Kirby, 19 November 2021
- Key points
- Final thoughts
ADNOC and Borealis reach FID on Borouge 4 complex in Ruwais, UAE
- Patrick Kirby, 16 November 2021
- Key points
- Final thoughts
Dow plans to build the world’s first net-zero carbon integrated ethylene and derivatives complex in Alberta
- Michael Camarda, 18 October 2021
- Key points
- Final thoughts
China’s first domestically-supplied ethane cracker started up by PetroChina Lanzhou
- Kelly Cui, 9 August 2021
- Key points
- Final thoughts
Lotte-Westlake JV cracker awards McDermott contract for seventh heater
- Michael Camarda, 14 July 2021
- Key points
- Final thoughts
Repsol investment at Sines, Portugal strengthens steam cracker operations
- Patrick Kirby, 12 July 2021
- Key points
- Final thoughts
Lotte Chem invests to double LPG usage at existing crackers in South Korea
- Catherine Tan, 7 July 2021
- Key points
- Final thoughts
Higher oil prices and impact on shaping the global ethylene cost curve
- Patrick Kirby, 24 June 2021
- Key points
- Final thoughts
Borealis secures chemically recycled feedstock for European steam crackers
- Patrick Kirby, 17 June 2021
- Key points
- Final thoughts
China’s Z hejiang Petrochemical starts up its second 1.4-Mtpa cracker
- Kelly Cui, 22 April 2021
- Key points
- Final thoughts
China’s first pure ethane cracker starts up at Lianyungang Petrochemical
- Kelly Cui, 8 April 2021
- Key points
- Final thoughts
- Patrick Kirby, Ugne Mitrikeviciute, 24 March 2021
- Key Points
- Final Thoughts
- Patrick Kirby, 15 March 2021
- Key Points
- Final Thoughts
- Patrick Kirby, 4 March 2021
- Key Points
- Final Thoughts
- Catherine Tan, 17 February 2021
- Key Points
- Final Thoughts
- Patrick Kirby, 16 February 2021
- Key Points
- Final Thoughts
SABIC and Plastic Energy to start construction of chemical recycling facility
- Patrick Kirby, 22 January 2021
- Key Points
- Final Thoughts
OMV confirms debottlenecking project for Burghausen, Germany steam cracker
- Key Points
- Final Thoughts
INEOS accelerates completion plan for ethane cracker project in Antwerp, Belgium
- Patrick Kirby, 18 January 2021
- Key Points
- Final Thoughts
LG Chem partners with Neste for petrochemical feedstocks from bio-materials
- Tiantian Jin, 10 November 2020
- Key Points
- Final Thoughts
OMV and Mubadala complete Borealis transaction for $4.68 billion
- Patrick Kirby, 30 October 2020
- Key Points
- Final Thoughts
Total and Borealis progress towards completion at Bayport-Polymers project
- John Maselli, 28 October 2020
- Key Points
- Final Thoughts
Latest thoughts on the INEOS ethylene project development in Europe
- Patrick Kirby, 22 October 2020
- Key Points
- Final Thoughts
Oman's two ethylene projects - one in commissioning, one progressing towards FID
- Patrick Kirby, 20 October 2020
- Key Points
- Final Thoughts
Linde and Shell collaborate to commercialise lower carbon ethylene technology
- Patrick Kirby, 15 October 2020
- Key Points
- Final Thoughts
China’s Lianyungang Petrochemical receives the first ethane cargo from the US
- Kelly Cui, 12 October 2020
- Key Points
- Final Thoughts
LyondellBasell to buy 50% of Sasol assets In Lake Charles for US$2 Billion in newly formed Joint Venture
- Enrique Galindo, 2 October 2020
- Key Points
- Final Thoughts
China’s Sinochem Quanzhou Petrochemical starts up 1-Mtpa cracker
- Kelly Cui, 21 September 2020
- Key Points
- Final Thoughts
Baltic Chemical Complex - an update on this 2.8 million tons ethane-cracking project
- Patrick Kirby, 1st September 2020
- Key Points
- Final Thoughts
SIBUR starts construction of world's largest steam cracker in Amur, Russia
- Patrick Kirby, 18th August 2020
- Key Points
- Final Thoughts
China’s Bora LyondellBasell Petrochemical starts up 1.1 Mtpa cracker
- Kelly Cui, 10th August 2020
- Key Points
- Final Thoughts
Russian petrochemical producer Nizhnekamskneftekhim receives primary fractionating column for new steam cracker build
- Laurie Baxter, 1st July 2020
- Key Points
- Final thoughts
CNOOC and Shell sign agreement to invest in phase 3 of JV in Huizhou, China
- Kelly Cui, 19 May 2020
- Key discussion points
- Final Thoughts
INEOS’ Cologne cracker butane plans a step closer as barges delivered
- Laurie Baxter, 7 May 2020
- Key Points
- Final thoughts
- Patrick Kirby, 17 April
- Key discussion points
- Final thoughts

Tables and charts

This report includes 24 images and tables including:

2023 Ethylene cost of production for Japan Chiba Chemicals Assets
2023 ethylene production margin and emissions intensity for Japan assets
2025 Ethylene cost of production for all assets in China

2027 Ethylene cost of production for China all assets
Ethane prices from different sources
Cost of production
2022 Ethylene cost of production for Sinopec Tianjin
2022 Ethylene cost of production for China all assets
Russian ethylene project developments
Global circular feedstock developments
2021 Ethylene cost of production for China all assets
2021 Ethylene cost of production for China all assets
2021 Ethylene cost of production for China all assets
Navigator Nova - Ethane ship
Ethylene production costs of the NKNK asset versus a typical European producer
China ethylene operating and planned assets, highlighting CNOOC&Shell and ExxonMobil Huizhou
Butane transport route
Kaub water levels
Mubadala investment company - ownership and connections