By July 14, 2020 Read More →

Daelim Chemical USA withdraws from Ohio Valley ethane cracker plant project near Moundsville, W.Va.

PTT Global Chemical America says local site still ‘top priority’

From The Intelligencer of Wheeling

WHEELING, W.Va. — Daelim Chemical USA, a partner in the proposed PTT Global Chemical America ethane cracker plant project in Belmont County since 2018, has withdrawn from the project.

The announcement came in a joint statement issued Tuesday by both companies. PTT said the change will cause a further delay in a final investment decision of about six to nine months. The company’s latest projection was to have a decision in early 2021.

“The Ohio petrochemical facility continues to be a top priority for PTTGC America. We are in the process of seeking a new partner whilst working toward a final investment decision. We look forward to making an announcement by the end of this year or early next year on this transformative project for the Ohio Valley Region. We wish Daelim well and appreciate its contributions to our effort,” according to a statement from PTTGC America President and CEO Toasaporn Boonyapipat.

The decision comes during a time of depressed oil and natural gas prices, and about a week after the Atlantic Coast Pipeline project was abandoned by Duke Energy and Dominion Energy due to ongoing pressure from environmental groups. Both companies cited the COVID-19 pandemic and volatile markets for the break. …

Read the full article: https://www.theintelligencer.net/news/top-headlines/2020/07/daelim-chemical-usa-withdraws-from-belmont-county-cracker-project-ptt-says-local-site-still-top-priority/

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