01 March 2013 21:57 [Source: ICIS news]
HOUSTON (ICIS)--NOVA Chemicals may make a decision regarding a possible polyethylene (PE) facility in Ontario's Sarnia region by the end of this year, the chief executive of the Canada-based producer said on Friday.
The company is investigating an expansion of its Sarnia cracker to feed the new facility, said Randy Woelfel, NOVA CEO. Woelfel made his comments during an earnings conference call.
However, the company is also considering other North American sources for ethylene as well, Woelfel said.
In making a decision, the company is balancing several factors, such as expansion costs, timing to market, incentives and execution risk, Woelfel said.
"We expect to finalise our decision later this year," he said.
At the company's site in Joffre, Alberta, the company is adding a new PE reactor. Permitting is completed and site preparation is underway, Woelfel said.
The company expects to receive approval for funding the project shortly, he said. The project is on track to be commissioned at the end of 2015.
Meanwhile, its Corunna cracker in Ontario is on track to start receiving natural gas liquids (NGLs) from the Marcellus shale in the third quarter, he said.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections