07 March 2012 21:45 [Source: ICIS news]
HOUSTON (ICIS)--Anglo-Dutch oil major Shell is still years away from making a final decision whether to fund a new cracker in the northeast US, the company chief executive cautioned on Wednesday.
“We are quite a few years away from…a final investment decision,” Shell CEO Peter Voser said on the sidelines of the 31st annual IHS CERAWeek energy conference in Houston.
He would not give a timeline for the final decision.
“But site location is one of the early things you need to do,” Voser added.
Shell is considering Pennsylvania, Ohio and West Virginia as possible sites for its project.
The states have large reserves of natural gas from the Marcellus Shale formation, which would provide the cracker with natural gas liquids (NGL) for feedstock.
The company said it would announce a potential site location early this year.
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