26 October 2012 21:06 [Source: ICIS news]
HOUSTON (ICIS)--The wave of new petrochemical plants in the ?xml:namespace>
"I think that's a point that everybody is paying a lot more attention to," said Jim Gallogly, chief executive of LyondellBasell.
He made his comments during an earnings conference call.
For LyondellBasell, the company continues to talk with potential partners about a condo cracker.
"We've had significant interest in a variety of parties participating in an asset like that," Gallogly said.
Otherwise, the company will continue to focus on expanding existing crackers, a strategy that LyondellBasell can pursue quicker and cheaper than building new plants, Gallogly said.
"Our strategy has been to get in early, and we're working with specific contractors as we speak on these expansions," he said. "So far, we have been able to find the resources that we need."
It is developing expansion plans for its
"Honestly, these debottlenecks have really favourable economics," he said. "If we can bring those up in 2014 and 2015, we'll be well in advance of the big capacity waves."
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