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American chemical suppliers take advantage of shale gas fracking

August 08/2012

(Canadian Plastics) -- Dow Chemical, Formosa Plastics, and Chevron Phillips Chemical have recently unveiled  their expansion plans in North America. It"s only been a few short years since the energy industry began tapping deposits in the Marcellus Shale Formation in New York, Pennsylvania, and Ohio, but natural gas reserves in the USA have already increased by almost 30 per cent and chemical suppliers are rushing to exploit this new wellspring.

ExxonMobil is also considering building two new polyethylene lines in Mont Belvieu, Texas, as well as a new ethane cracker in Baytown, Texas.

Nova Chemicals has a series of growth projects of its own in development in Ontario  Chemical Valley, including the possible construction of a new world-scale polyethylene plant in Sarnia-Lambton.

Analysts see the moves by Nova and other domestic resin producers as attempts to develop low-cost feedstocks and create more widespread reshoring of manufacturing to North American suppliers before outside pressures reign them in.
Author:Margaret Volkova
Tags:PE, Chevron Phillips, Dow, Exxon Mobil, Formosa, Nova Chemicals.
Category:General News
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