Abstract
Over the past 3 years, petrochemical makers started up nine new ethylene crackers in the US with a combined annual capacity of nearly 10 million metric tons. The projects, meant to take advantage of cheap and plentiful ethane derived from shale gas, have expanded US capacity for the basic chemical by about 30%. Five of the projects started up in the past year and are currently ramping up production. The biggest is Sasol’s complex in Lake Charles, Louisiana, which includes ethylene, polyethylene, α-olefin, and alcohol plants. The project ended up costing $12.9 billion, about $4 billion over budget, and led to the ouster of the company’s co-CEOs. Two more projects—a modest Dow expansion and a joint venture among Total, Nova Chemicals, and Borealis—are scheduled to begin operations this year. With all the new capacity for ethylene and derivatives coming on line, petrochemical makers report slimming profits. Dow’s packaging and specialty
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