PTT Global, Marubeni mull Ohio site for possible US cracker

HOUSTON (ICIS)–Thai chemical company PTT Global and Japanese trading house Marubeni announced the location of a possible US cracker on Wednesday.

According to the Governor’s office of Ohio, the companies are looking at a site in Belmont county, Ohio, for a world-scale ethane cracker.

The press release said that the two companies will take the next 12-16 months to complete the engineering design and permitting.

The companies are expected to make a formal investment decision in 2016, with construction scheduled to take place in 2017 if the decision to build the unit is made.

The companies are hoping to take advantage of cheap feedstock ethane in the Utica and Marcellus shale regions.

The announcement of a site, but not of the certain construction of the cracker, comes as several companies have decided to wait for a clearer picture on global crude oil markets before fully committing to new cracker capacity in the US.