25 May 2012 22:06 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Brazilian petrochemical giant Braskem is evaluating the possibility of switching its US polypropylene (PP) plants to utilise feedstock derived from shale gas reserves, the company said on Friday.
“Various options, including investment held 100% by the company or through a partnership with another company, are being evaluated,” said the company.
“Any decision on an investment will not be immediate but may be taken later this year,” the company added.
The producer wants to take advantage of the cheap price of natural gas in the US market, according to the company.
The price of naphtha increased by 16% over values in the fourth quarter of 2011, the company said.
“Braskem is always seeking opportunities to access more competitive raw materials,” said the company.
Braskem is the largest producer of PP in the US market, according to the company’s website.
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