30 September 2013 21:38 [Source: ICIS news]
HOUSTON (ICIS)--The number of on-purpose propylene plants that would actually be built in the US should be just enough to create a balanced market for the monomer, the CEO of LyondellBasell said on Monday.
Lighter feeds, however, produce less propylene.
As a result, propylene has become more expensive than ethylene, the inverse of past trends, said Jim Gallogly, LyondellBasell CEO.
He made his comments on the sidelines of the opening ceremony of the Houston Technology Center, a new research and development (R&D) site.
Some companies are discussing whether they would go forward with their plans because of concerns about propane prices, Gallogly said.
Propane prices could rise because the US is building terminals that can export the product.
Consequently, Gallogly expects the US propylene market to be balanced.
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