PTTGC America’s Ohio petrochemical complex on hold
Wednesday, September 1, 2021
PTTGC America’s final investment decision on a new petrochemical complex in southeast Ohio hinges on securing a new partner in the project, according to S&P Global Platts. Until a new partner has been secured, the company is putting the project on hold.
The company had previously announced in July last year it had reached an agreement with Energy Storage Ventures to develop a $250 million natural gas liquids storage and transportation facility for the proposed complex. Shortly before this deal was struck, PTTGCA said that its former partner in the petrochemical complex, South Korea’s Daelim, had withdrawn.
The proposed petrochemical project will include a 1.5 million mt/year cracker, two 350,000 mt/year high-density polyethylene plants, a 450,000 mt/year HDPE plant and a 450,000 mt/year linear low-density PE plant, according to permitting documentation.
Learn more: S&P Global Platts > PTTGC America’s Ohio complex on hold until new partner secured
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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.