Days after a Royal Dutch Shell plc subsidiary announced that it intends to purchase a site in Pennsylvania — presumably for its “world-scale” ethane cracker in the Marcellus Shale — media reports are fueling speculation that two other companies are interested in building crackers in West Virginia.
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Aither, Brazil’s Braskem Fuel West Virginia Cracker Rumors
Days after a Royal Dutch Shell plc subsidiary announced that it intends to purchase a site in Pennsylvania — presumably for its “world-scale” ethane cracker in the Marcellus Shale — media reports are fueling speculation that two companies are interested in building their own crackers in West Virginia, with one possibly making their announcement today, Wednesday.
Prices Up with Little Weather, Futures Backing
Other than a remote tropical wave that presumably could enter the Gulf of Mexico next week, there was little to explain price increases at all but one point Monday. Industrial load was returning from its usual weekend decline, but that hardly sufficed as a rationale for cash market gains despite flat futures on the previous Friday and only a modicum of cooling load outside the Pacific Northwest and the area from Texas through the desert Southwest and interior California.
Transportation Notes
Maritimes & Northeast (M&N) deliveries into Tennessee at Dracut, MA were cut to zero for the gas days of Thursday and Friday and presumably will remain that way into the weekend due to processing problems at the Goldboro Gas Plant in Halifax, NS. Alan Jeffers of ExxonMobil Canada, the operator of Sable Offshore Energy Project (SOEP), said SOEP supplies into M&N had been reduced about 40% to 245 MMcf/d (from 400 MMcf/d normally). “Goldboro hopes to have the problem resolved in the next several days,” Jeffers said. A Northeast marketer said he understood Goldboro was having problems with its glycol processes, but Jeffers was unable to confirm that.