15 March 2010 20:16 [Source: ICIS news]
HOUSTON (ICIS news)--The growth of US natural gas capacity may make natural gas production in ?xml:namespace>
Specifically, the structural costs differential between Alberta-based ethane relative to US Gulf-based supplies is very important to the company, Woelfel said.
“We are clearly seeing some degree of decline in the west [
Woelfel said NOVA had expressed its concerns with
While additional natural gas and ethane supplies would be available in the US, proposed natural gas pipelines from several locations were not economically feasible at present due to lower natural gas pricing, NOVA said.
In addition, NOVA recently joined a fight against a toll surcharge on a US pipeline system that supplies its chemical production in southern Ontario province with feedstock.
NOVA is headquartered in the
NOVA noted, however, that Canada's ethane availability in 2010 was actually slightly better thus far than its pre-year projection. In addition, NOVA’s lower reliance on PE exports to
Earlier on Monday, NOVA reported a fourth-quarter net income of $17m (€12.4m), up from a $212m net loss in the year-earlier period. Sales slipped 2.5% to $1.12bn.
During the earnings conference call, Woelfel said the company’s business results had improved steadily through 2009, with the fourth quarter as its only quarterly profit.
NOVA is a wholly-owned subsidiary of
Woelfel took over as NOVA's chief executive on 1 January.
($1 = €0.73)
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