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

AddThis Social Bookmark Button

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.

Printer Friendly

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