Condo crackers

Participating in the development of a condo cracker . Building a world-scale cracker can cost about USD 1 biUion. No more than two new world-scale crackers wiU probably be needed to satisfy the increase in European demand for raw materials over the next eight to ten years. European petrochemical players could therefore join forces to build condo crackers owned by a number of them, each with the right to use or sell a fixed amount of a product at a predetermined cash cost. 

Such condo crackers would allow the industry to maintain an even balance of supply and demand in Europe, while permitting the partners to secure access to cheap feedstocks. Compared with the alternative - the prohferation of small crackers, leading to higher production costs and overcapacity - the benefit would be substantial for the whole sector. 

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