Plans for a multi-billion dollar ethane cracker in West Virginia are once again uncertain, as Braskem SA confirmed late Wednesday that it has hired a financial adviser to evaluate strategic alternatives for a nearly 400 acre site it owns in the state.
Braskem
Articles from Braskem
Braskem Pulls Trigger on Massive Polypropylene Facility Near Houston, Fed by Shale Gas
Braskem is moving forward with its largest polypropylene (PP) production line in the Americas, a $675 million facility sited on the Houston Ship Channel in La Porte that would take advantage of abundant stores of Lower 48 natural gas.
Briefs — West Virginia Cracker, Chesapeake, Quicksilver
West Virginia Department of CommerceSecretary Keith Burdette said Thursday at an industry conference in Pittsburgh that the state expects Odebrecht SA affiliateBraskem SA to acquire additional tracts of property in Parkersburg in the coming weeks for its proposed multi-billion dollar ethane cracker. In April 2015, the companies said plans for the ethane cracker in Wood County, WV, would be postponed pending further project analysis amid the commodities downturn (see Shale Daily,April 23, 2015). But Burdette, who supports the facility, noted that neither Braskem, nor PTT Global Chemical (PTTGC) pcl and Shell Chemical Appalachia LLC, which have also proposed crackers in Ohio and Pennsylvania, respectively, have scrapped plans for their projects. Burdette said his office expects Braskem to acquire more land sometime by the end of 1Q2016. He added that his office stays in close touch with the company and others that have made similar proposals for the region. He said that Braskem, Shell and PTTGC have each “expressed a desire” to push final investment decisions until 2017. Braskem has filed for certain permits for the cracker and has been acquiring land in Wood County since about 2013, when the facility was first announced (see Shale Daily,Aug. 27, 2014;May 19, 2014;Nov. 14, 2013).
Braskem Exec, Republican Lawmakers Urge Against Pennsylvania Oil/Gas Severance Tax
Braskem America's top executive joined state Republican lawmakers near Philadelphia on Thursday to rally against Gov. Tom Wolf's proposed severance tax on oil and natural gas production, saying it could jeopardize the company's plans to expand its assets in the state if passed.
Braskem Exec, Republican Lawmakers Urge Against Pennsylvania Oil/Gas Severance Tax
Braskem America’s top executive joined state Republican lawmakers near Philadelphia on Thursday to rally against Gov. Tom Wolf’s proposed severance tax on oil and natural gas production, saying it could jeopardize the company’s plans to expand its assets in the state if passed.
Marcellus Pipeline to Philadelphia Seeking Gas Buyers & Backers
A group of companies, including at least two electric utilities, has begun a discussion to possibly build a large natural gas pipeline that would connect Marcellus Shale supplies with Philadelphia customers.