LyondellBasell has contracts lined up for US methanol plant: CEO

30 September 2013 21:35  [Source: ICIS news]

HOUSTON (ICIS)--LyondellBasell already has contracts lined up for the restart of its methanol plant, the company's CEO said on Monday.

The 780,000 tonne/year plant in Channelview, Texas, should begin operations in the fourth quarter.

LyondellBasell shut down the plant in 2003 because of then-high natural gas prices.

However, the advent of shale gas has lowered US prices for natural gas, which is used to make methanol.

Once the plant restarts, the company will see how well it operates and then consider debottlenecking projects, said Jim Gallogly, LyondellBasell CEO.

He made his comments on the sidelines of the opening ceremony of the company's Houston Technology Center, a new research and development (R&D) site.

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By: Al Greenwood
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