PTTGC

IEEFA Research

IEEFA U.S.: Ohio petrochemical project faces high risks and shaky outlook

IEEFA U.S.: Ohio petrochemical project faces high risks and shaky outlook

PTTGC plan under pressure from increased competition and market uncertainty

March 21, 2020 (IEEFA U.S.) – Plans to build a new petrochemical complex in Belmont County, Ohio face myriad market and other challenges, according to a report released today by the Institute for Energy Economics and Financial Analysis (IEEFA). The project is to be undertaken by Thailand-based PTT Global Chemical (“PTTGC”) and Daelim Industrial of […]

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IEEFA: Ohio cancels permits for controversial Mountaineer storage facility

Powhatan Salt Company was to build mining wells for storing natural gas liquids (NGLs)

September 26, 2020 (IEEFA U.S.) ‒ The Ohio Department of Natural Resources announced it had cancelled permits for the Mountaineer storage project. The permits would have allowed Powhatan Salt Company to build solution mining wells for natural gas liquids (NGL) storage in Monroe County. The storage was intended to support a burgeoning petrochemicals industry in […]

and September 28, 2020 Read More →
IEEFA U.S.: Follow the money, and repeal FirstEnergy’s Ohio bailout
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IEEFA U.S.: Follow the money, and repeal FirstEnergy’s Ohio bailout

FBI lays bare audacious $61 million web of racketeering - Gov. DeWine should call special legislative session

FirstEnergy’s successful campaign last year to secure a $1 billion bailout of its Ohio nuclear plants is at the center of a pay-to-play scandal that is rocking Ohio. Yesterday, the Justice Department filed criminal charges against Larry Householder, speaker of the Ohio House of Representatives, and four close associates in a case U.S. Attorney David […]

Planned petrochemical project in Ohio may be on the ropes with departure of South Korean partner

Associated Press: The prospects for construction of a multibillion-dollar petrochemical plant in Ohio appear to have dimmed after a U.S. subsidiary of a South Korean company announced it was withdrawing as a partner in the project. A joint statement issued early Tuesday by Daelim Chemical USA and the U.S. subsidiary of Thailand’s PTT Global Chemical […]

July 16, 2020 Read More →
IEEFA update: Problems mount for PTTGCA petrochemical plant

IEEFA update: Problems mount for PTTGCA petrochemical plant

Request for permit extension raises questions about true risks

New disclosures by Thailand-based PTT Global Chemical America (PTTGCA) regarding its proposed petrochemical plant planned for Belmont County, Ohio, illuminate the financial risks facing the project. Interested citizens, community advocates and elected leaders should understand these risks and the disturbing implications for the future of the community. PTTGCA has delayed this proposed petrochemical plant numerous […]

Thai company indefinitely postpones planned polyethylene plant in Ohio

Petrochemical Update: Thailand-based PTT Global Chemical’s long-awaited final investment decision (FID) to build an ethylene-polyethylene complex in Ohio will remain under consideration for an indefinite period. “Due to circumstances beyond our control related to the pandemic, we’re unable to promise a firm timeline” for an FID, the company said in a mid-May email referring to […]

June 1, 2020 Read More →
IEEFA U.S.: Ohio petrochemical project faces high risks and shaky outlook
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IEEFA U.S.: Ohio petrochemical project faces high risks and shaky outlook

PTTGC plan under pressure from increased competition and market uncertainty

March 21, 2020 (IEEFA U.S.) – Plans to build a new petrochemical complex in Belmont County, Ohio face myriad market and other challenges, according to a report released today by the Institute for Energy Economics and Financial Analysis (IEEFA). The project is to be undertaken by Thailand-based PTT Global Chemical (“PTTGC”) and Daelim Industrial of […]

IEEFA Ohio: Mountaineer NGL storage project loses its environmental permit

Weak market causes main potential customer, PTTGC, to delay decision to build petrochemical complex

Powhatan Salt company and the sponsors of the Mountaineer Storage Project, a natural gas liquids (NGL) storage facility in Salem Township, Monroe County, Ohio, allowed a state environmental permit to expire last week. Why give up a permit they worked hard to secure from the Ohio Department of Natural Resources (ODNR)? The answer is that […]

March 10, 2020 Read More →