Tuesday, May 7, 2019

Rumor Central: Belmont County Cracker Plant Decision Could Be Coming in September, Project May Be Sold to New Company

Jim Willis of Marcellus Drilling News reported last week a rumor that was passed along to him by a trusted source regarding the cracker plant that has been in the planning stages for Belmont County for some time now.

Here is a small portion of what Jim reported:
Then our source added this, about the timing of an FID announcement:
PTT is saying that it likely will be September when an FID is announced. 
Finally, our source dropped a bombshell–that PTT may end up having to sell the project:
Multiple players are saying that PTT and Daelim are having enough trouble with the financing (causing the September timing) that they will be forced to sell the project to a bigger player. Two super majors are sniffing around, and there is some indication that a couple other major US and European players are sniffing too.
You can read the whole report, which has quite a bit more information on this, by clicking here (subscription required).

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