As petrochemical companies launch new operations to take advantage of North America’s shale gas, they need to be aware of the challenges encountered in capital projects. The approaches that companies use to meet those challenges can have a sizable impact on the ultimate success—and on long-term profits and competitiveness.
Over the next four years (2014-2017), more than $425 billion in new petrochemical plant investments are expected around the globe—and a substantial portion of these will occur in North America. The reason: The abundance of shale gas and shale gas liquids in the region and the resulting stability in long-term natural gas prices have created a cost advantage for the industry in North America.
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