Investors expected to reach decision on Ohio ethane cracker in first half of 2020
Thursday, March 12, 2020
The developers of a possible ethane cracker in southeastern Ohio expect to reach their final investment decision on the project during the first half of this year, according to Rigzone.
Site preparation, engineering and design work have been underway since mid-2019 to prepare for the potential multibillion-dollar project that PTT Global Chemical America would develop with Daelim Chemical USA in Belmont County, Ohio.
TTGC reportedly has already spent more than $100 million on detailed front-end engineering design.
Learn more: Rigzone > Ohio ethane cracker decision expected within months
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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.