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Africa is rich in oil and gas resources. So far, Africa has a total of 20 oil-producing countries, of which Nigeria, Algeria, Angola, Egypt and Libya produce about 85% of Africa’s total oil production. By 2020, the oil production of African countries will account for 20% of the world's total oil. With the continuous deepening of international cooperation in the development of oil and gas resources in Africa, the degree of oil exploration on the sea and land has gradually deepened, and proven reserves have continued to increase. African oil production has entered a period of rapid growth. In addition, the large population and relatively low labor costs are another factor that large international companies are considering to enter.
According to the analysis of Accenture, a global consulting company, the population of Africa exceeds 900 million, providing a huge opportunity for the consumption of petrochemical products. At present, the consumption of polyolefins per capita in Africa is still very low, and the average annual consumption will increase at a rate of 6%. The food, plastics, and textile industries are driving the growing demand for polymers in Africa, including thermoplastics, polyurethanes, fibers, and coatings.
At present, although the production capacity in North Africa and West Africa has been expanded, the demand for polymers across the entire African continent still relies heavily on imports. For example, in Africa, the production of polymers in 2006 was about 3 million tons, while consumption exceeded 5.5 million tons. In addition, the plastics industry has become the fastest growing sector in the chemical industry in Africa. It is expected that Africa will become the fastest growing region in addition to India and China. At present, the polyethylene and polypropylene markets in Africa have been established and are expected to increase by 10% to 15% in 2011. Relatively speaking, the European, China and Middle East markets have already become oversupply. In addition to the maturation of the South African market, West Africa, particularly Nigeria, will become the fastest growing market for polyolefins, and is expected to grow at an average annual rate of 7.5%, while the East African region will grow at a moderate rate of 4% to 5% per year. At present, the average annual per capita consumption of plastics in Africa is only 400 grams, while the per capita consumption in the United States is 50 kg, and in Europe it is 25 to 30 kg. This shows that the market has great potential for growth.
As far as the chemical industry is concerned, the main production bases for chemicals in the African continent are the North African coast (Libya, Algeria, and Egypt) and Sasol's plants in South Africa and Nigeria. Fertilizer production is mainly in South Africa and North Africa countries such as Tunisia, Morocco and Egypt. The budding North African chemical market is expected to grow rapidly in the next few years. The abundant natural gas supply, ever-expanding market, and the improvement of political stability, these factors attract multinational companies to enter this emerging market.
Egypt and Algeria expect to significantly increase their petrochemical production capacity in the next five to seven years. By 2015, Algeria’s chemical production will increase fourfold, and a joint venture between Algeria’s national energy company Sonatrach and Total will build a world-scale petrochemical project in Arzew, Algeria – 1.1 million tons/year of ethane-based feedstock. The ethylene cracker, a joint plant for ethylene derivatives of 800,000 tons/year of polyethylene and 550,000 tons/year of ethylene glycol, and a consortium formed by Lurgi, Mitsui, and Kuwait Qurain Petrochemical Industries Co., Ltd., jointly constructed a methanol plant. These projects are expected to start production in 2014. Sonatrach will also invest in the construction of propylene and polypropylene projects in Arzew and Skikda.
With the lifting of Western economic sanctions on Libya, Dow Chemical announced in 2007 that it will establish a joint venture with Libyan National Oil Company (NOC) to expand the Lissian Ras Lanuf petrochemical plant. In 2007, Libya announced the introduction of policies to attract international investment and integrate its domestic economy into the international economy. Dow Chemical became the first international company to participate in Libya's petrochemical industry development. Both parties will expand Ras Lanuf’s existing naphtha cracking plant, two polyethylene facilities, and related infrastructure, and then build an ethane cracker to build additional polyethylene and polypropylene units. Natural gas as a feedstock for hydrocarbon processing, plastics, and chemical production facilities.
In July of this year, Japan Marubeni Corporation and Sinopec Group's Petrochemical Corporation signed a strategic cooperation agreement, and both parties will cooperate in petroleum and refining projects in South Africa and other areas rich in oil and gas resources.
Africa leads to transnationalization of enterprises "Nugger storm"
Foreign capital is now rapidly flowing into Africa! As the global economy begins to recover slowly, the world will focus more on the African continent. As Asia's economy gradually matures, it is expected that Africa will become the next high-growth region in the global chemical industry and the world’s major chemical market. Many multinational chemical companies have begun to consider investing in chemical operations in the African continent.