Episode 1072: Think Tank: Europe petrochemicals face tough 2023/4, must think long-term

Sombre mood at the recent European Petrochemical Association (EPCA) conference, but excitement building for longer-term opportunities from the net zero carbon agenda.  -          Short-term survival in hostile environment of low demand, overcapacity-          Drive to net zero, high energy costs key concerns for EPCA delegates-          By 2036 Europe petrochemicals may be exposed to full cost of carbon -          Threat from low-cost producers in other regions-          Gaza/Israel conflict heaps further pressure on Europe as upstream costs rise-          Little prospect of upturn in 2023/4  -          Global supply chains may revert to more local distribution channels-          Closer relationships with customers will be key for low-carbon future-          Industry transformation offers huge opportunities for innovative companies