24 July 2008 11:19 [Source: ICIS news]
SINGAPORE (ICIS news)--Formosa Petrochemical Corp (FPCC) is doubling its 80,000 cubic metre liquefied petroleum gas (LPG) storage capacity in line with its plans to increase LPG feedstock usage in its crackers, a source from the Taiwan producer said on Thursday.
“We are doubling the capacities of our propane and butane tanks, which are each 40,000 cubic metres, as the company wants to increase the amount of LPG used as feedstock for its crackers,” the source said.
The two new storage tanks would be completed by early 2010, he added.
The three crackers consume about 100,000 tonnes/year of LPG, mainly during the summer season, but that would increase with the commissioning of the storage tanks, the source added.
Asia naphtha weakened following a large overnight fall in crude prices. First-half September cargoes were assessed at $1,061.50-1,064.50/tonne CFR (cost and freight)
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