Cheap US natgas may limit drilling, NGL supplies – Gallogly

28 March 2012 21:36  [Source: ICIS news]

HOUSTON (ICIS)--Cheap prices for natural gas could harm the US petrochemical industry by discouraging energy producers from drilling, which would limit production of feedstock natural gas liquids (NGL), the chief executive of LyondellBasell said on Wednesday.

"Producers are going to need to have reasonable prices to support a resurgence in our industry," said Jim Gallogly, CEO of the Dutch polyolefins producer.

He made his comments during the World Petrochemical Conference, held by IHS Chemical, which lasts through Thursday.

By: Al Greenwood
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