10 March 2011 19:07 [Source: ICIS news]
“As we move into 2012, we believe our portfolio of new feedstock projects will begin to dramatically improve our supply position,” Woelfel told analysts during the company’s 2010 fourth-quarter results conference call.
These deals, and a project to extract olefins-rich feedstocks from the upgrading of oilsands in
The arrangement with Caiman is subject to NOVA arranging pipeline transportation to move the ethane from West Virgina to
NOVA is also working with other gas firms to secure additional ethane for Corunna, he said.
A possible ethane pipeline project with US firm Buckeye, announced early last year, “remained an attractive option”, he added.
At the same time, NOVA will upgrade its Corunna cracker to position that plant as “fully light-feed capable”, Woelfel said.
NOVA’s Corunna ethylene plant, often described as a “flexi-cracker”, runs on both heavy and light feedstocks. It can currently take ethane for almost one third of its overall feedstock intake, Woelfel said.
Preparations for the Corunna upgrade would be implemented during a planned turnaround this year, he said.
“We continue to believe that the
On Wednesday, NOVA reported that its 2010 fourth-quarter net income more than tripled to $60m (€43.2m) as demand and selling prices increased for olefins and polyolefins.
NOVA is a wholly-owned subsidiary of
($1 = €0.72)
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