Sonatrach and Total Sign a Joint Venture Agreement for a Petrochemical Complex.

Algeria: Sonatrach, an Algeria based, state owned hydrocarbon company, has signed a joint venture agreement with a Total to build a major petrochemical production unit in Algeria. Sonatrach has commissioned to French Total to conduct a feasible study for the establishment of petrochemical production complex. Total S. A, a France based multinational integrated energy company. As per the agreement, both sides agreed to boost their partnership in the energy production chain in Algeria and across the globe. The petrochemical plant in the country would cater to the growing demand for propylene and ethylene in the country.

TechSci Research depicts that with the joint agreement of the two leading companies will strengthen their partnership and helps them to jointly explore the new opportunities in the energy sector. Moreover, it is expected to augment the expansion of the companies and support their competitive presence in the global petrochemical market. Additionally, the new facility would cater to the growing demand for pet coke in the country.

According to the recently published report by TechSci Research, “Global Pet Coke to Chemicals Market By Derivative (Propylene, Ethylene, Oxo Chemicals, Methyl Acetate, Acetic Acid, Acetic Anhydride, etc.), By End Use Application, Competition Forecast and Opportunities, 2011 – 2025”, the global pet coke market is forecast to surpass $25 billion by 2025, on account of increasing industrialization and rising investments in the cement industry. Surging demand for pet coke as feedstock in various downstream industries such as chemical, construction, automotive, textile and consumer goods is expected to fuel growth in the global pet coke market during 2016 - 2025. In 2015, cement production dominated demand for pet coke across the globe and the segment is anticipated to continue its dominance in the market through 2025. Additionally, rising number of power plants is necessitating the need for pet coke for use as a fuel. Moreover, growing demand for pet coke in different industrial processes is anticipated to augur well for the market through 2025.