| According to Asiachem Consulting, MEG production capacity in China was predicted to reach approximately 4000kt/y by the end of 2010, including adjusted 150kt/y coal-based MEG capacity built by Tongliao Jinmei.
Total MEG capacity of PetroChina would reach 2000kt/y in East China area with its subsidiaries including Sinopec Shanghai Petrochemical, Zhenghai Refining & Chemical, Yangtze Petrochemical and joint-venture BASF- YPC Company Limited, of which Zhenghai Refining & Chemical and Sinopec Shanghai Petrochemical are the two largest MEG producers in China.
However, according to some analysts, global MEG consumption was expected to reach 21.88 million tons with total capacity of 27.09 million tons this year, which signified surplus capacity of MEG. Besides, China MEG market is badly influenced by the low-cost products from Middle-East. |
