New US cracker projects will not start up before 2016 – Lyondell exec

23 May 2012 15:15  [Source: ICIS news]

HOUSTON (ICIS)--None of the six new ethylene cracker projects announced in the US will start up before 2016, a LyondellBasell executive said on Wednesday.

Sergey Vasnetsov, vice president of strategic planning at LyondellBasell, said that so far only one company actually filed for environmental permits.

“The applications for the permits, and the construction cycle, dictate that it will be at least a four-year exercise from now," Vasnetsov told analysts at a webcast investor conference in New York.

“The new crackers will come up more gradually, and also somewhat later, as compared to the pre-announced schedules,” he added.

LyondellBasell, for its part, is well-positioned to continue to benefit from the shale gas boom in the US, where it operates six crackers, Vasnetsov said.

The company is focused on running its US plants at high operating rates, and it is working on projects to expand its ethane-consuming capacity, including an increase of ethylene production capacity at its cracker in La Porte, Texas, he said.

By: Stefan Baumgarten
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