NPRA's 30th IPC Opens As Global Recovery In Petrochemicals Is Underway
3,300 Attendees Gather At World's Largest Petrochemical Gathering
NPRA today convenes its 30th International Petrochemical Conference (IPC), the world's premier petrochemical meeting. Over 3,300 petrochemical executives representing about 600 companies from 48 countries are expected to attend. NPRA Chairman Bill Klesse, Executive Vice President and Chief Operating Officer, Valero Energy Corporation, will open the meeting. IPC Program Chairman Alan Vanacore, Vice President, Sunoco Chemicals, and Petrochemical Committee Chairman Monte J. Miller, Executive Vice President, Chemicals, Flint Hills Resources LP will preside over the three-day conference at the Henry B. Gonzalez Convention Center.
"As 2005 begins, a global recovery in petrochemicals is underway, fueled by strong economic growth in the U.S. and China," said Bill Klesse, NPRA Chairman. "With most economists forecasting that the global economic upswing will continue through 2005, there is reason to be optimistic about the industry's future economic success. But problems remain. Domestic feedstock prices are higher than in other areas of the world and the industry faces significant existing and proposed regulatory actions that affect manufacturing activities and could require additional product testing. NPRA will continue to work on these issues to make final policies reasonable and ensure that they reflect the industry's commitment to product safety and a cleaner environment."
"As has been the case for 30 years, the IPC will provide a unique forum which petrochemical executives attend to assess new trends and formulate new ideas and strategic directions," added Klesse.
This year's program focuses on the current conditions facing the petrochemical industry. These include how China will impact the global petrochemical industry and the overall prospects for petrochemicals in Asia; the importance of adequate and predictable railroad transportation to the U.S. petrochemical industry; the outlook for natural gas supply, including LNG and the status of the proposed Alaskan gas pipeline; and the challenges and opportunities of globalization. The keynote speaker at Tuesday's luncheon is The Honorable Alan Greenspan, Chairman, U.S. Federal Reserve System. Chairman Greenspan will discuss his outlook for the world economy and his perspectives on the role of energy, especially natural gas, and including LNG, in the U.S. and world economy. He will address the luncheon live via satellite.
Monday morning's Keynote Breakfast features Dan Smith, President & CEO, Lyondell Chemical Company, and Wang Jiming, Vice Chairman of China Petroleum & Chemical Corp. (Sinopec). Mr. Smith will give his perspectives on the international petrochemical industry, especially in the United States and Europe. Mr. Wang will present his views on the current activities of the petrochemical industry in Asia, with a focus on China. The Supply Chain Forum on Monday morning features Jim Young, President & COO of Union Pacific Railroad, and Fred Ungerer, Vice President Process Industries, SAP America, Inc. Mr. Young will discuss "The Role of the Railroad in the Chemical Industry – Past, Present and Future" and Mr. Ungerer will speak on "Unleashing Latent Profitability Through Adaptive Business."
Tuesday morning's Forum features Governor Frank Murkowski of Alaska, who will discuss the current status and likely timing of the Alaskan gas pipeline project. Mark Sikkel, Vice President, LNG Terminals and Transportation, ExxonMobil Development Company, will give his perspectives on natural gas issues.
In 2005, NPRA will continue its aggressive public policy advocacy on important issues facing both the U.S. petrochemical and refining industries: passage of comprehensive energy legislation with a limited MTBE liability provision for defective product claims; adequate supplies of affordable natural gas and natural gas liquids; facility security concerns; and policies affecting environmental controls on facilities and products. All of these issues are crucial to maintaining a strong and diverse domestic refining and petrochemical industry.