U.S. seen becoming net chemical exporter, thanks to shale boom

|By:, SA News Editor

The U.S. is poised to become a net exporter of chemicals thanks to the shale oil boom, FT reports; the American Chemistry Council forecasts net U.S. chemical exports of ~$2.7B this year and expects exports to rise 45% over the next five years to nearly $30B by 2018.

U.S. companies such as Exxon Mobil (XOM), Dow Chemical (DOW), Chevron (CVX) and Phillips 66 (PSX) are among the leaders in investing in new capacity, but even producers from Asia and the Middle East are looking at projects in the U.S.

Dow's Andrew Liveris speaks for big companies that want curbs on U.S. exports of liquefied natural gas to ensure their energy cost advantage; with five LNG projects now approved for export sales by the Obama administration, "where they are right now seems to be fine," he says.