08 December 2011 17:51 [Source: ICIS news]
HOUSTON (ICIS)--LyondellBasell plans to restart a methanol unit in Texas near Houston, the company’s top executive said on Thursday.
Chief executive Jim Gallogly said at the company’s Investor Day event in New York that LyondellBasell would restart the 780,000 tonne/year unit at Channelview to take advantage of low-cost natural gas supplies.
Channelview is eight miles east of downtown Houston.
LyondellBasell closed the methanol unit in March 2003 because of the then-high cost of natural gas, the main feedstock for North American methanol producers.
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