Stability against changing outlook of ME petrochem industry

Organized under the theme, ‘Building on Achievements – Enabling Continued Success in the Changing Chemical Landscape’, the 10th anniversary edition of the Annual GPCA Forum witnessed the active particupation of Borouge where it stressed its significant contribution to the development and support of the UAE petrochemicals industry. The Annual GPCA Forum was held at Madinat Jumeirah in Dubai from 17-19 November 2015.

The 10th anniversary edition of the Annual GPCA Forum featured a key note address that was delivered by HE Engineer Suhail Mohamed Faraj Al Mazrouei, UAE Minister of Energy. The event also brought together leaders of the region’s chemicals and petrochemicals industry, including senior officials from Abu Dhabi, HE Abdulla Nasser Al Suwaidi, ADNOC Director General and Rashed Saud Al Shamsi, ADNOC Petrochemicals Director, Chairman of Borouge Pte – the marketing arms of Borouge - and Chairman of the GPCA.

Mr. Rashed Saud Al Shamsi, ADNOC Petrochemicals Director, Chairman of Borouge Pte and Chairman of the GPCA, delivered a speech where he emphasized the growing importance of the Arabian Gulf region which became one of the world’s major petrochemical hubs with  petrochemicals production capacity in the region increasing by three times to over 136 million tons in 2014, and with the GCC chemical industry currently generating sales by $87.4 billion. He also mentioned that despite the current low petrochemicals prices, the industry’s transformation from producing traditional commodities to producing specialty and performance chemicals will continue.  

He added that transformation, trade, technology and talent are the four goals that the region’s industry should focus on to rise to the challenge of securing future success and building on the achievements gained in the past four decades.  As a founding member of the GPCA since 2006 and a sponsor of this Forum, Borouge demonstrated its contribution to the development of petrochemicals industry in the UAE.