South Korean company signs on to build ethane cracker in Ohio
Monday, March 19, 2018
A South Korean company has signed on to bring a $5 billion ethane cracker plant to Belmont County, Ohio. The new partnership could make the project even bigger than what was originally proposed, according to Columbus Business First.
Thailand-based PTT Global Chemical Public Company Ltd, the developer of the proposed complex, announced the addition of Daelim Industrial as a partner on March 12.
PTT and Daelim are considering a plant that could produce 1.5 million metric tons a year — 50 percent more than was originally anticipated. The change would mean a bigger capital investment and more jobs.
Learn more: Columbus Business First > South Korean company joins effort to build $5B ethane cracker in eastern Ohio
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.