LyondellBasell executive skeptical of new cracker announcements

17 November 2011 22:05  [Source: ICIS news]

HOUSTON (ICIS)--A LyondellBasell executive on Thursday voiced skepticism over announcements of new ethane crackers in the US.

Sergey Vasnetsov, senior vice president at LyondellBasell, said such announcements really told more about the companies’ “ambitions” than about their actual plans.

“What we haven’t seen so far is those announcements matched by applications for permits, which would be a necessary step to go through,” Vasnetsov said at a conference in New York.

“You should be appropriately careful in examining those statements,” Vasnetsov added.

Earlier this year, US-based Dow Chemical, and Anglo-Dutch company Shell announced plans to build new crackers in the US. US-based Chevron Phillips Chemical and Brazil’s Braskem are also studying building new crackers. Vasnetsov said building a new cracker will take 4-5 years. “We see those units coming online at the earliest in 2016,” Vasnetsov said.

On Thursday, Shell said it expected to announce the location of a proposed world-scale cracker in the northeast US in January.

LyondellBasell, said in late July it would focus on debottlenecking projects in the US before considering new investments.

For more on LyondellBasell visit ICIS company intelligence


By: Lane Kelley
+1 713 525 2653



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