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Wednesday, April 29, 2015

West Virginia Cracker Plant Put on Hold as Company Reconsiders Plans

Companies tapping the brakes on
West Virginia cracker plant
In what could serve as a cautionary tale to Belmont County about not counting their chickens before they hatch, plans for an ethane cracker plant in West Virginia are delayed as the companies involved in the joint venture think twice about starting construction.

From the Pittsburgh Business Times:
A joint venture's plans for an ethane cracker plant in West Virginia has been paused. 
Braskem and partner Odebrecht confirmed in a joint statement that they are re-evaluating plans to build a plant along the Ohio River in Parkersburg, W.Va., but stressed that the project wasn't being cancelled outright. 
"From the beginning, we have taken a deliberate approach to Project ASCENT. Under the current energy scenarios, the original configuration of Project ASCENT needs to be re-evaluated, and a final investment decision on the project will require more diligence," the statement said. "We have already begun our re-analysis and will continue to take a prudent, deliberative approach to ensure that ASCENT's business will be successful and sustainable for the region, our shareholders, team members, industry partners and clients."
Read more by clicking here.

Similar stalling has been the norm for another ethane cracker project in Pennsylvania.  While Belmont County is elated about the idea of a cracker being built there, these other projects provide a warning that it isn't a reality until work actually gets underway.

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