28 March 2011 17:17 [Source: ICIS news]
(releads and adds more detail throughout)
SAN ANTONIO, Texas (ICIS)--US ethylene capacity could increase by 4% if Chevron Phillips Chemical moves forward with a plan to build a new steam cracker in the US Gulf, a market source said on Monday.
The planned unit could have as much as 1m tonnes/year of capacity, the source said on the sidelines of the International Petrochemical Conference (IPC) in ?xml:namespace>
The new facility will utilise the advantaged feed sources expected from development of shale gas reserves, the company said.
"We are finalising our evaluation of potential sites and advancing discussions with... contractors," said Tim Taylor, Chevron Phillips Chemical’s chief operating officer.
The company’s feasibility study is expected to be complete by the end of 2011.
If Chevron Phillips Chemical decides to go ahead with the project it would likely take around 3-4 years to finish construction and bring the unit online, the source said.
For more on Chevron Phillips Chemical visit ICIS company intelligence
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections