Obtaining vast amounts of renewable energy, plus a more supportive regulatory environment, are most important for Europe’s petrochemical industry on its path to low carbon production.
Hear Hartwig Michels, president of the European Petrochemical Association and head of BASF’s global petrochemical operations, in conversation with Paul Hodges, chairman of New Normal Consulting and Nigel Davis, ICIS Insight editor.
The conversation covered the following points:
- Availability of green electricity is the key challenge for low carbon chemical production
- Decline in refinery petrochemical feedstocks will push recycling
- Out of 30m tonnes/year of plastic waste in Europe, 70% is not recycled
- Chemical industry must accelerate moves to net zero
- Sustainability will have a cost for industry and society
- Supply chain, logistics crisis could last at least six months
- Container logistics still disrupted, prices rising again
- Supply shortages, higher prices impact customers
- Record-breaking gas, electricity prices push up production costs
- Slowing demand may alleviate supply chain woes
- Short-term and long-term approaches required to strengthen supply chains