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Europe's petrochem industry threatened by U.S. plastics from gas, Reuters says

The oil-dependent $167B European petrochemicals industry could be in for rude awakening as their U.S. rivals seek to get a wider range of raw materials out of cheap shale gas to make more plastics, coatings and adhesives, reports Reuters. Dow Chemical (DOW) and Enterprise Products (EPD) are building facilities to convert gas into propylene, a key building block for advanced materials. The European facilities, run by firms including BASF (BASFY), Sabic, Ineos and LyondellBasell (LYB), are particularly vulnerable to any price decline in propylene.