BAKU, Azerbaijan, Feb.20
By Leman Zeynalova – Trend:
In the fourth quarter 2020 Italian Eni’s natural gas sales of 18.57 bcm increased by 9 percent compared to the same period of 2019, due to the higher long-term gas volumes marketed outside Italy, mainly in Turkey, as well as higher LNG gas sales, Trend reports citing Eni.
In the full year of 2020 natural gas sales of 64.99 bcm decreased by 11 percent y-o-y due to the economic downturn driven by the COVID-19 pandemic, which mainly impacted volumes lifted at the thermoelectric and industrial sectors.
Sales of petrochemical products were 1.33 mmtonnes in the fourth quarter, up by 27 percent compared to the same period of 2019, driven by higher volumes of intermediates, due to a better product availability, polyethylene and elastomers for higher demand, and styrenics, particularly in the appliance and packaging sector.
In the full year, sales were substantially in line with 2019 (up by 1 percent) thanks to the positive performance reported in the intermediates, styrenics and polyethylene segments due to higher product demand, partly mitigated by the generalized reduction in elastomers volumes for a weaker demand at the main end-markets, particularly the automotive sector, as result of the global economic downturn caused by the COVID-19 pandemic and uncertainties about the strength of the recovery which induced operators to decrease storage.
Petrochemical product margins improved mainly in the polyethylene segment, driven by higher demand for packaging, with widening spreads vs. ethylene, and styrenics/elastomers due to a decrease in feedstock prices. In the fourth quarter and in the full year, the cracker margin reported an increase as a result of the reduction of the feedstock prices and positive exchange rate effects.
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