4 new petrochemical plants in Saudi Arabia and one in Kuwait are projected to augment annual global ethylene capacity by 4.5 mln tons by the end of 2008, with similar volumes coming onstream in the Middle East from 2009 and 2010. Germany's BASF seems ready to face a potential supply glut from new petrochemicals plants in the Middle East, and expects limited impact on its business and group earnings. The multinational chemical maker expects limited impact at the end of this year and during 2009. BASF has built-in buffer in its Verbund- its integrated network of production processes that turn feedstocks into chemicals derivatives.
