03 April 2012 18:03 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS)--Western Canada has reserves of shale gas that could provide petrochemical producers with another source of natural gas liquids (NGLs), an executive for NOVA Chemicals said on Tuesday.
The reserves, though, are still relatively new, said Grant Thomson, president of olefins and feedstock for NOVA Chemicals. He made his comments on the sidelines of the International Petrochemical Conference (IPC), hosted by the American Fuel & Petrochemical Manufacturers (AFPM).
"Over the next couple of years, as that gets proven out, then we will have very big sense of 'okay, how big is this'," he said.
In the US, the advent of shale gas has given chemical producers cost advantages for both feedstock and for energy. As a result, several producers have announced plans to expand existing plants or build new ones.
In Canada, potential reserves are in the Duvernay Shale, the Montey Shale and the Horn River Shale, Thomson said. So far, initial reports indicate that the Horn River has drier gas while the Montey Shale has more liquids.
The IPC lasts through Tuesday.
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