South Stream pipeline gets Turkey green light

(bbc.co.uk) -- Turkey has given permission for the South Stream gas pipeline to be built across its territories, giving the project a clear run into the lucrative energy markets of Europe.
The pipeline will transport Russian gas to Europe under the Black Sea. It will now be able to bypass Ukraine, which had failed to reach an agreement with the pipeline's owners.


Gazprom has a 50% stake in the project, Italy's Eni 20% and France's EDF and Germany's Wintershall 15% each. A short statement from Gazprom said "all necessary and unconditional permits were granted".
The full pipeline is expected to be completed by the end of 2015.
The main rival to the South Stream project is the EU-backed Nabucco pipeline, which is set to carry gas from the Caspian region to Austria, passing through southern Europe.

MRC

Australia investigates Japanese PVC dumping

(plasticsnews) -- The Canberra-based Australian Customs and Border Protection Service (ACBPS) is inviting submissions from industry into whether anti-dumping measures, implemented to stop Japanese manufacturers exporting PVC at prices less than the resin's normal value in Australia, should continue.

Anti-dumping measures currently apply to PVC exports from Japan and the U.S., but the measures for Japanese imports expire Oct. 21, 2012. ACBPS invited industry Dec. 9 to respond to whether measures imposed on Japanese imports should continue for another five years.

Anti-dumping measures were first implemented in 1992 and reimposed in 1997, 2002 and 2007.




ACBPS's most recent inquiry was told about 30 percent of Japanese PVC exports from 2003 to 2006 to all countries were at prices below domestic prices. It was told Australia's PVC market price exceeded Japan's dumped goods by 8 percent.

ACBPS ruled in Nov. anti-dumping measures imposed on U.S. manufacturers exporting PVC to Australia should remain. The measures were due to expire on Jan. 22, 2012.

ACBPS said without anti-dumping measures, it is likely dumped U.S. PVC will undercut other imports in the Australian market and significantly undercut Australia's selling prices.

MRC

European Union Cleared Middle Eastern SABIC and Octal of Suspicion of Subsidization and Dumping

(chemmonitor) -- Recently, the investigations conducted by the European Union in regard to polyethylene terephthalate (PET) products supplied from the countries of the Middle East to the EU were stopped since the complaints had been retracted.


The PET imports from Saudi Arabia and Oman were put under investigation around a year ago on suspicion of subsidization and dumping.

Saudi Basic Industries Corporation (SABIC) and Oman-headquartered Octal were suspected of unfair competition.

MRC

North America styrene market set to go down Next Year

(chemmonitor) -- Current instability in US economic situation and the debt of the EU entailed negative outlook for North America styrene market.

Styrene market consumers are very cautious about the perspectives of a raw material benzene and crude oil, while styrene producers are more positive.


Styrene traders and suppliers did not expect such tight market conditions next year.
Styrene North America market players predict unsteady benzene market and dependence on the economy of the U.S.

However, some styrene market players did not predict such a volatile market.

MRC

JV Agreement Signed Between Perstorp & PTT Global Chemical Public

(perstorp) -- Joint venture agreement was signed between Perstorp & PTT Global Chemical Public Company Ltd. (PTTGC) for the global production and specialty chemicals sales for the polyurethane industry on December 22, 2011.

The JV, focused on the production and trades of aromatic (tolylene diisocyanate (TDI)) and aliphatic (Isophorone diisocyanate (IPDI), hexamethylene diisocyanate (HDI) and derivates) isocyanates, comprises the founder Perstorp Business Group ⌠Coating Additives and its production units at Pont-de-Claix (France) and Freeport (the United States). 51 percent of the JV will be owned by PTTGC and 49 percent by Perstorp.

PTT Global Chemical Public Company Limited is Thailand's largest chemical producer and chemical flagship of PTT Group The company's business value chain consists of upstream business with petrochemical capacity of 8.2 million tons per year and petroleum products capacity of 228,000 barrels per day. Downstream business includes polymers, EO-Based Performance, Green Chemicals, and High Volume Specialties.

MRC