Statoil to supply ethane for NOVA Canada cracker
NOVA Chemicals has signed a memorandum of understanding with Statoil to secure a long-term supply of ethane from the Marcellus Shale basin.
Financial terms were not disclosed.
“We are very pleased to be working with Statoil for the supply of additional ethane to our Corunna, Ontario cracker. Their supply will help to diversify our supply base for our Corunna cracker revamp project and support our growth plans in the future,” said Randy Woelfel, CEO.
“Statoil is pleased to have reached a framework agreement with NOVA Chemicals for the sale of ethane from the Marcellus Shale basin,” said Martin Jones, president of Statoil’s US operations.
In addition to finalizing a definitive purchase and sale agreement with Statoil, and customary reviews and approvals, the arrangement is subject to NOVA Chemicals concluding a pipeline transportation agreement to transport ethane from the Marcellus Shale basin into the Sarnia, Ontario petrochemical market.
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