Middle East petrochemical exports over 29 mln tons

The exports of petrochemical products from the Middle East region in 2010 exceeded 29 million metric tons, and the figures showed a hike of over 250 percent over the last 11 years, coming up from 10 million metric tons in 1999, reported EQUATE Monday.A press statement by EQUATE President and Chief Executive Officer Hamad Al-Terkait said Gulf Cooperation Council (GCC) exports in particular face the challenge of crowded ports and deficient infrastructure at most ports in the region. Still, GCC exports to most world markets are on a rise.As for EQUATE exports, he reported export of over two million tons in both liquid and solid matter, traded in deals worth over USD two billion involving more than 10 specialized companies in maritime freight, the goods destined for clients in the Middle East, Asia, Africa, and Europe.He added EQUATE exports are more than 80 percent of the State of Kuwait's overall non-oil exports, despite the difficulties mentioned above.The CEO is to take part in a supply and logistics event organized by the GCC petrochemicals producers union in Abu Dhabi, set for kickoff tomorrow under EQUATE sponsorship. The event lasts till October 20, and a host of petrochemical corporate representatives are to take part to discuss the future of the industry.