13 February 2013 21:17 [Source: ICIS news]
HOUSTON (ICIS)--Calumet Specialty Products is putting a proposed gas-to-liquids project on hold so it can evaluate it more thoroughly, the US-based refiner said on Wednesday.
The entire plant would be constructed as truckable modules at engineering specialists Ventech Engineers’ fabrication facility in Pasadena, Texas, and transported to the site in Pennsylvania.
"The one project that we have put on hold at this point in time is the GTL project," said Calumet COO Jennifer Straumins.
Straumins made her comments during an earnings conference call.
"We've come to the conclusion over the last couple of weeks that while on paper this is fantastic technology, we're not sure we want to be first to market, so we are going to take some time and we are going to do some more engineering analysis up front and make sure this is the right project for us to do," Straumins said.
"We feel very strongly about the economics of the project and we feel strongly that the technology works on paper," she said. "We just want to make sure that we engineer it a little more thoroughly before we give a final go."
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