Braskem, Odebrecht put US ethane cracker plans on hold, citing markets
4/23/2015 12:00:00 AM
Brazilian petrochemical companies Odebrecht and Braskem are reviewing their proposed ethane cracker and petrochemical complex in West Virginia, the companies announced today.
In a joint statement, Braskem and Odebrecht confirmed to media outlets that the delay is necessary due to present energy market conditions.
A spokesman for Gov. Earl Ray Tomblin of West Virginia shared with the media that the re-evaluation is understandable due to changes in global energy markets and the magnitude of investment.
The proposed Appalachian Shale Cracker Enterprise (ASCENT) petrochemical complex included an ethane cracker, three polyethylene plants and associated infrastructure. The complex would be located in Wood County.
In late 2014, Technip entered into a contract to supply its proprietary ethylene technology and process design package (PDP) for a world-class grassroots ethane cracker at the proposed ASCENT complex.
Comments