Aug 24, 2017 12:48

LyondellBasell’s $2.4bn Texas chemical plant signals sustained export demand

LyondellBasell’s decision to move forward with its $2.4 billion (bn) propylene oxide (PO) and tertiary butyl alcohol (TBA) plant in the Houston area signals a continuation of the petrochemical boom on the U.S. Gulf Coast driven by regional feedstock advantage and access to foreign markets from Texas ports.

The American Chemistry Council (ACC) estimates the Texas Gulf Coast accounts for about $70bn of the $185bn in petrochemical plants completed since 2010 or potential capital investments announced to 2023.

As of now, more than $86bn in new projects have been completed in the U.S. or are under construction.

Source: Petrochemical Update