08 May 2013 17:29 [Source: ICIS news]
HOUSTON (ICIS)--Williams expects ethane prices to come in at a midpoint estimate of 30 cents/gal in both 2014 and 2015, the US-based midstream energy and petrochemicals firm said in an update on Wednesday.
For 2013, Williams assumes ethane prices of 28 cents/gal at the midpoint, with low- and high-range points of 26 cents and 31 cents, respectively, the company said in webcast presentation.
The forecast compares with that of Dow Chemical CEO Andrew Liveris, who recently said that ethane prices will likely hover in the 20s cents/gal range for the next two years.
In 2012, actual ethane prices were 40 cents/gal, Williams added.
Declining ethane prices were a key factor in the year-on-year decline in Williams’ 2013 first-quarter net income.
Ethane prices are a key concern for US petrochemicals producers, as most of them use it as a feedstock to produce ethylene.
Additional reporting by Jeremy Pafford and Al Greenwood
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