Uncertainty Intensifies: A Bumpy Ride Ahead
Covid-19 has had a profound impact on society and on industry. A combination of the pandemic and the resulting plunge in crude oil prices has led to a significant fall in methanol demand. 2020 global demand for methanol is forecast to be 5 percent lower than in 2019, and 7 percent lower than the previous 2020 forecast. Operating rates across the globe have been lower, and methanol units in Trinidad and Chile have been brought offline altogether.
The speed of recovery is likely to vary by geography and by industry. For example, the epicenter of the pandemic has moved from Europe to the America’s but this could shift again and there are likely to be second and third waves of infection. The construction industry has held up reasonably well and is likely to be the beneficiary of infrastructure investment, as governments look to stimulate economic activity. The automotive industry has been hit much harder, however, and is likely to recover more slowly; it may also require government stimulus such as “cash for clunker” scrappage schemes. In this ever-changing landscape, “knowledge is power” and nowhere will more knowledge be found than at the 38th Annual World Methanol Conference – Online.
This year’s event will:
- Lay out the industry landscape and likely price trajectory of key energy products/feedstocks such as crude oil, natural gas and China coal
- Talk through the predicted recovery in methanol prices, trade and demand, by geography and key derivatives
- Outline the latest status of methanol production and methanol projects
Live sessions will utilize the combined expertise of industry leaders and IHS Markit experts to:
- Summarize the key themes of the conference and answer questions from attendees
- Analyze the different factors influencing the rise of renewable/green/bio-methanol and ammonia
- Focus on the potential for methanol and ammonia as marine bunker fuels given the new IMO legislation on sulfur emissions
Don’t miss this unparalleled opportunity to learn, share and network at the 38th Annual World Methanol Conference – Online.