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PTT Signs Contract with Mountaineer NGL Storage Hub for OH Cracker
Just yesterday MDN told you about one expert’s view that there won’t be one massive NGL storage hub built in the Marcellus/Utica, but a number of smaller hubs (see Expert Says Massive Appalachian NGL Storage Hub Won’t Get Built). One of the smaller hubs we highlighted is the Mountaineer NGL Storage project. Lo and behold…yesterday PTT Global Chemical, the Thailand-based petrochemical giant seeking to build a giant ethane cracker plant in Belmont County, OH, signed a contract with Mountaineer to use their NGL storage services when/if the mighty cracker gets built.
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PTT Global Chemical yesterday issued a press release to say its major partner and financial backer for a planned $10 billion ethane cracker facility in Belmont County, OH–South Korea’s Daelim Chemical USA–has decided to pull out of the project. PTT said it remains committed to the project and will look for a new partner.
Do you remember the child’s game called “Simon Says”? That’s what we were thinking when we read about a lawsuit in Ohio by landowners against a group of shale drillers. The lawsuit, initiated by several landowners in Belmont County, OH, claims the drillers drilled too deep–into the Point Pleasant rock layer–when the leases signed only mention the Utica rock layer. The lawsuit, which is seeking class action status, claims “unjust enrichment” by the drillers.
MDN was launched in January 2009, during the heyday of leasing for shale drilling in the Marcellus/Utica region. One of our early focuses was to highlight lease deals by landowner coalitions. (Indeed, it was one such deal, in Deposit, NY, that inspired Jim Willis to begin writing MDN.) These days you don’t read or hear much about landowner coalitions because most properties are now leased (not all, but most). MDN friend Nicole Jacobs from Energy in Depth highlights a successful coalition in Belmont County, OH in a recent post.
PTT Global Chemical, the huge Thailand-based petrochemical company looking to build a world-class ethane cracker plant in Belmont County, OH, has botched its messaging about when it will make a final investment decision (FID) about moving forward with the project. The latest FID was supposed to be now, by the end of June this year (see 
In late April PTT Global Chemical, the huge Thailand-based petrochemical company looking to build a world-class ethane cracker plant in Belmont County, OH, announced it would not make a final investment decision (FID) about whether to build the Ohio cracker by mid-2020 (see 
In a piece of stellar investigative journalism and reporting, MDN friend Bob Downing (at 
Last Friday PTT Global Chemical, the huge Thailand-based petrochemical company looking to build a world-class ethane cracker plant in Belmont County, OH, issued an update for the project. In February PTT’s CEO signaled that a final investment decision (FID) on whether (or not) to build the project would happen by “mid-year 2020” (see 
Last year MDN told you about New Jersey-based Omni Energy Group and their application to build two new injection wells in Belmont County, OH near St. Clairsville (see 
Even amid the coronavirus pandemonium and economic destruction happening everywhere, important oil and gas (and petrochemical) projects continue to make progress. In particular, the PTT Global Chemical plan to build an ethane cracker plant in Belmont County, OH still shows signs of life. In February PTT’s CEO signaled that a final investment decision on whether (or not) to build a multi-billion dollar ethane cracker in Belmont County, OH is coming by “mid-year 2020” (see 
Nearly two weeks ago Shell, at the prompting of local officials, shut down construction of the mighty ethane cracker plant the company is building in Beaver County, PA (see 
The Pittsburgh Business Times is reporting that a contractor working in EQT’s hydraulic fracturing (“completions”) operation who last worked at a site in Belmont County, OH has tested positive for COVID-19 coronavirus. Because that worker has been in contact with a number of other workers in EQT’s completions unit, the company has temporarily shut down all completions (fracking) operations. In a separate and unrelated announcement, EQT told investors they are (for now) suspending quarterly dividend payments and will use the money instead to pay down near-term debt.
It was April 2015 when PTT Global Chemical, a huge petrochemical company based in Thailand, first announced they would consider building an ethane cracker plant in Ohio (see 
It amazes us that we now have to defend perhaps the greatest advancement to the longevity of not only humankind but all species on planet earth. That advancement is PLASTICS. Yes, plastics. The invention of plastic and its uses on Mom Earth has made our lives better. Plastics, contrary to the current popular mythology, have extended human and animal life. And yet, even the companies that build giant cracker plants to create raw plastic pellets (for further use in thousands of plastic products) must now bow down before environmental crackpots to declare their concern (even dislike) of the very thing they produce: plastic. It’s bizarre.