07 November 2011 19:40 [Source: ICIS news]
BUENOS AIRES (ICIS)--The construction of another world-scale cracker in Mexico will depend on an official announcement of additional ethane feedstock, a Pemex Petroquimica executive said on Monday.
"Another new cracker would certainly be needed, but a lot will have to do with the availability of ethane," said Carlos Pani, vice president of sales and marketing at the Mexico state-owned chemical firm.
"Right now, all of the official ethane balance is going to the Ethylene XXI project," he said, referring to a joint venture between Brazil’s Braskem and Mexico’s Idesa.
Pani spoke to ICIS on the sidelines of the 31st annual meeting of the Latin American Petrochemical Association (APLA).
"Everyone is sure we have more ethane, but we have to be very careful," he said. "We are using the most conservative estimate."
Pani would not say when Pemex might release an update on its ethane reserves.
"We know there is more [ethane], but we have to be sure," he said.
Braskem Idesa, a joint venture 65% owned by Braskem and 35% by Idesa, is in the process of building a $3.6bn cracker and polyethylene (PE) project near Coatzacoalcos, Mexico.
The Ethylene XXI project, is expected to be completed by mid-2015.
A new cracker project could be completed by 2018 or 2019, depending on the availability of ethane, Idesa CEO Jose Luis Uriegas said.
The APLA annual meeting lasts through Tuesday in Buenos Aires.
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