News Post
ExxonMobil Plans to complete its Gulf Coast growth ventures project by year’s end.
ExxonMobil recently reduced its capex figures for this year, but despite an expected reduction down to $16 billion from $19 billion it is pushing some projects forward. The company’s venture with SABIC for a large ethane cracker and its derivate units are now anticipated for a 2021 startup, rather than the previous expectations for 2022.
The Gulf Coast Growth Ventures (GCGV) project includes a 1.8 MMtpy ethane cracker, two polyethylene units with a combined capacity for 1.3 MMtpy, and a 1.1 MMtpy monoethylene glycol (MEG) unit, all located in San Patricio County of Corpus Christi, Texas.
The increased pace for these projects is due to specifically favorable circumstances. ExxonMobil Senior Vice President Jack Williams stated back in October that the company would be “taking advantage of the more favorable cost environment to progress the Corpus Christi chemical project and deliver it ahead of schedule and under budget.” The output from GCGV is expected to benefit from the demand for its products used in a wide variety of clothing, packaging, construction materials, and automotive refrigerant usage.
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