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Thursday, April 21, 2016

Consol Energy CEO: "I Believe Two Cracker Plants" Will be Built in Marcellus/Utica Shale Region

From TribLIVE:
The global crash in oil prices and resulting squeeze in financing available to energy companies have raised questions about whether two companies will build ethane cracker plants in the Marcellus and Utica shale regions. 
The head of one of the top shale gas producers in the area, however, predicts both petrochemical facilities will be built in the next decade. 
“We will see one to two ... I believe two cracker plants built in this region,” Consol Energy Inc. CEO Nick DeIuliis said Friday during the University of Pittsburgh's Energy Law and Policy Institute gathering Downtown. 
Such facilities would take ethane — a liquid that comes up with natural gas from many shale wells in Western Pennsylvania, Northern West Virginia and Eastern Ohio — and convert it to ethylene and polyethylene, the building blocks of many common plastic products.
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