Another step towards PTTGC America Announcing FID connected Bryce Custer, Broker of NAI Ohio River Corridor
Editor’s Note: Our last newsletter provided an article on both the Shell Polymer complex in Monaco, PA and the proposed PTTGC project in Belmont County, OH. This article was written in May and distributed in September due to COVID related delays at our office. We apologize for any confusion.
“The announcement of Range Resource – Appalachia LLC (September 23, 2020) shows that progress is moving forward on the PTTGC America project in Belmont County”, according to Bryce Custer, SIOR, CCIM with Ohio River Corridor, LLC. “The source of Ethane in conjunction with the July 22, 2020 announcement of agreement of underground storage with Mountaineer NGL continues to advance preparation for FID with sources tell us will be first or second quarter 2021”, said Custer.
“With the continued optimism of PTTGC America announcing FID, we are beginning to see additional interest in related companies looking at Ohio and West Virginia for land, facilities and office space”, according to Custer. Belmont County, OH and Moundsville, Marshall County WV are attracting interest from companies who see tremendous opportunities and competitive advantage by being in proximity to the PTTGC facility and within the area defined as the “Shale Crescent”, said Custer (Bryce Custer is also the Broker for NAI Ohio River Corridor, a commercial real estate firm serving Ohio and West Virginia).
PTTGC America LLC (PTTGCA), the U.S. subsidiary of PTT Global Chemical Public Company Limited, a leading integrated petrochemical and refining company based in Thailand, announced today that it has signed a long-term ethane feedstock agreement with Range Resources – Appalachia LLC, a leading producer of natural gas and natural gas liquids based in western Pennsylvania.
Under this ethane agreement, Range will provide 15,000 Barrels per day of ethane as feedstock for PTTGCA’s planned ethane cracker and petrochemical complex along the Ohio River in Ohio’s Belmont County. The ethane supplied by Range will be utilized by PTTGCA to manufacture polyethylene, one of the key resins used to produce plastics products. Throughout the COVID-19 pandemic, plastic materials have helped protect the public health, especially in the medical and food industries. This agreement is predicated upon PTTGCA reaching a final investment decision on the Ohio Petrochemical Project.
“This agreement will provide the ethane needed for the operation of this project,” said PTTGCA President and CEO Toasaporn Boonyapipat. “Range Resources is another example of the outstanding partners we are bringing together to make this world-scale petrochemical complex a reality. We deeply appreciate the continued support we have received from our federal, state and local partners.”
“We are very pleased to partner with PTTGCA to help support a world-class project in Appalachia. This further demonstrates our commitment to investing in our community, while growing regional demand for our products,” said Jeff Ventura, CEO and president of Range Resources. “This project is a great example of what is possible with a multi-decade asset base and forward-thinking teams working together to create value for all stakeholders.”
The PTTGCA Ohio petrochemical complex, once constructed, will be one of the largest manufacturing investments in Ohio. The project, which will include world-scale chemical manufacturing facilities to produce finished plastic resin, will be capable of producing 1.6 million metric tonnes of polyethylene plastic resin, which is used to make the myriad of plastic products that are necessary to use every day. This facility is expected to create hundreds of highly paid full-time jobs, thousands of construction jobs over the five year period of construction The project’s investment and high-paying, full-time jobs would have a very positive and transformational impact on the local, regional and state economy and quality of life. For more information on PTTGCA’s Ohio petrochemical complex project, visit: http://pttgcbelmontcountyoh.com/project-facts/