Sunday Thematic & Weekly Recap

Long-term lost Russian gas is terminal for some European Chemicals
October 30, 2022
Commodities Mentioned:
Plastics, PVC, Polypropylene, Polyethylene, Polyurethane, Polycarbonate, Polystyrene, PET, Clean Energy Minerals, Carbon Dioxide, Hydrogen, Natural Gas/NGLs, Crude/Naphtha, Carbon Black, Renewable Power, Metals, Fertilizer, Ammonia, EVs, Polyolefins, Rubber, Hydrocarbons, Oil, Basic Chemicals, Coal, Wind, Solar, Hydro, Nuclear
Companies Mentioned:
Nova Chemicals, Dow, LyondellBasell, ExxonMobil, CP Chemical, Solvay, Sherwin-Williams, Axalta, Covestro, Huntsman, ICL, BP, Archaea Energy, Westlake, Hexcel, Alpek, Braskem, Formosa Plastics, Pinnacle Polymers, TotalEnergies, Heartland Polymers, GE, Engie, Halliburton, Liberty Energy, Schlumberger, Uniper, Albemarle, Air Liquide, Clariant, Vulcan Energy, NextChem, Reliance, Sensient Technologies, Shell, Nucor, Ineos, Kemira, Pilbara Minerals, Domo Chemicals, BASF, 3M, Wanhua Chemical, Bunge, Cabot Corporation, Chemours, Aramco, Elementis, Elkem, Mesaieed Petrochemical, Symrise, OCI, Chandra Asri, Air Water, Idemitsu Kosan, Rinchem, EMS Group, Teijin, Samsung SDI, Eagle Materials, Valero, Cyclyx International, Agilyx, NuScale Power, Prodigy Clean Energy, Owens Corning, Masco, Henkel, Issaquena Green Power, Siemens Gamesa, Vestas, Borealis, Nexus, Eastman, Monolith, Origin Materials, Orion Engineered Carbons, ADM, Denbury, CF Industries, Rystad Energy, Tesla, Linde, Olin, Shin-Etsu, Orbia, Element Solutions, KBR, Woodside Energy, Unilever, Methanex, Tronox, Sabic, Lithium Americas, Celanese, Syngenta, S-Oil, Sekisui Chemical, Adama, SCG Chemicals, Fortescue, Murphy USA, Xcel Energy, TechnipFMC, Core Lithium, Lummus, OQ Chemicals, Whirlpool, Yasuhara Chemical, Lotte Chemical, Daito Chemix, Mitsubishi Gas, Tokuyama, PetroChina, Hanwha Solutions, Lynas, Tata Chemicals, Wacker, Repsol, Dorf Ketal, Canpotex, Hess, Pavilion Energy, Macquarie, Mitsubishi Electric, Imperial Oil, Chevron, First Solar, Equinor, Honeywell, Glencore, Pengerang Refining, Versalis, PepsiCo, Amazon

C-MACC Sunday Thematic & Weekly Recap 141

Long-term lost Russian gas is terminal for some European Chemicals

  • The IEA appears to be writing off Russian gas supplies for the long term. Their balancing equation requires even more renewables – we see more US gas.  
  • Key wind component industries are losing money in 2022, and inevitable price increases make expanded targets for future wind generation more challenging.  
  • With the right incentives – or lack of opposition – the US can fill the impending global LNG gap but diversifying away from the Permian may be wise medium term.
  • Linde and the other industrial gas companies are facing significant tailwinds from transition, and the IRA – capital discipline will still matter – good for Linde.
  • Meanwhile, the German chemical industry is in real trouble with BASF publicly discussing permanent closures, and we expect others to follow.

Last week we discussed 29 Chemicals and related products and 135 Companies.

See PDF below for all charts, tables and diagrams

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