PTTGCA’s proposed ethane cracker plant in Ohio takes step forward with an agreement for a new storage facility
Thailand’s PTT Pcl subsidiary PTTGCA recently announced that it has signed an agreement with Energy Storage Ventures LLC subsidiary Mountaineer NGL Storage for the construction of a facility to store and transport NGL at the proposed ethane cracker complex in Ohio. PTTGCA has stated that this next step will bring the project closer to a final investment decision (FID), despite the pandemic driven reduction in global plastics demand.
Mountaineer NGL will develop this $250 million storage facility over two phases in underground salt caverns located approximately 8 miles from the proposed site for PTTGCA’s ethane cracker, which has been designed to produce 1.5 million metric tons of ethylene annually from ethane sourced from the Marcellus and Utica shale deposits. Each phase of the storage facility will hold approximately 1.5 million barrels apiece.
This is a positive sign for a project that in recent months has delayed an FID from mid-2020 into late 2020/early 2021 and has seen a partner leave the project, as Daelim of South Korea exited the project earlier this month. PTTGCA is looking for new partners to come on to progress this project, which has had estimated costs discussed around $5-6 billion with a potential startup by 2028.
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Boxscore Construction Analysis:
Business Trends: Asia and Europe join the feedstock evolution with steam crackers
From the April 2018 issue of Hydrocarbon Processing