IHS Chemical Week

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IHS WPC 2014: Future of petrochemical feedstock remains in the Mideast and CIS

8:56 AM MDT | April 1, 2014 | Francinia Protti-Alvarez

The development of shale gas production in the United States has been exciting but, looking forward, the Mideast and Commonwealth of Independent States (CIS) countries retain a true long-term potential to keep supplying gas and, as a result, petrochemical feedstocks, IHS Chemical says. About 70% of the world's gas reserves and 54% of the world's oil reserves reside in deposits in the Mideast, CIS, and North Africa. "Even the recent impact of extraction of oil and gas from shale has done little to impact the dominance [of these geographies] in this respect...

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