27 April 2012 14:44 [Source: ICIS news]
HOUSTON (ICIS)--Eastman Chemical has signed a contract to source propylene from a planned ?xml:namespace>
The sourcing agreement would provide Eastman with similar economics as an olefins conversion unit (OCU) it is considering for its site in Longview, Texas, while preserving the company’s capital for other uses, executive vice president Ronald Lindsay told analysts during the company’s 2012 first quarter results conference call.
The project is being developed by a third party and has not yet been publicly announced, Lindsay said.
The project owner is working on finalising agreements with other customers to proceed with the PDH unit, he said.
He did not identify the owner, and he would not disclose the project’s exact location or capacity.
However, Eastman expects to provide an update later this month, he said.
Meanwhile, the OCU in
Eastman CEO Jim Rogers added that Eastman would not make any capital investment in the PDH project.
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