July 22, 2020
PTTGC America announced the execution of a precedent agreement with Energy Storage Ventures LLC through its wholly owned subsidiary Mountaineer NGL Storage that will provide certain necessary infrastructure for a proposed petrochemical complex in the Ohio Valley. The precedent agreement outlines the terms and conditions for the development of a natural gas liquids (NGL) storage facility that will provide storage and transportation services for the proposed PTTGCA complex. The facility will be the first underground NGL storage site in the heart of the Marcellus and Utica shale formation.
Mountaineer will develop the underground salt caverns for NGL storage on a 200-acre site in Ohio’s Monroe County. The site, owned and operated by Mountaineer, is located approximately 8 miles south of the PTTGCA project site in Dilles Bottom. PTTGCA is working with Mountaineer on 1 million barrels of ethane storage and a pipeline that will link the storage facility to the project.
“Ethane storage and transportation will be a crucial element of a world-scale petrochemical complex,” said PTTGCA President and CEO Toasaporn Boonyapipat. “Mountaineer NGL Storage will provide essential infrastructure and capabilities to our project. Our impending partnership with this first-rate organization brings us one step closer to a final investment decision. We deeply appreciate all the support we have received from our federal, state and local partners, including Belmont and Monroe counties, which have brought us to this point.”
“We are pleased to partner with PTTGCA as it works toward the development of the second petrochemical plant to be located in the Ohio River Valley,” said David Hooker, President of Mountaineer NGL Storage. “Our storage facility will have an important role in managing the plant’s supply portfolio, along with offering PTTGCA and other prospective customers an option to manage seasonal and operational demand with competitive locally priced production. The PTTGCA team has been great to work with, and we look forward to a long and successful relationship.”
The $250 million storage facility will be developed in two phases by creating multiple caverns in the existing underground salt formation. Each cavern will be capable of storing approximately 500,000 barrels of NGLs, including propane, butane, ethane and ethylene. Mountaineer has obtained all required permits to begin construction of Phase 1 of the project – approximately 1.5 million barrels – which will take two to three years to complete. An additional 1.5 million barrels is planned for Phase 2, which will bring the total capacity to approximately 3 million barrels. Additional expansion capabilities are available, subject to market demand. With the support of the State of Ohio and the local community in Monroe County, the Mountaineer project will set new standards for safely building and operating am NGL storage facility.
July 14, 2020
PTTGC America President and CEO Toasaporn Boonyapipat made the following statement today in reference to the withdrawal of Daelim Chemical USA from the PTTGCA Ohio petrochemical project:
“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.”
March 25, 2020
If PTTGC America goes forward with a world-scale petrochemical complex in the Ohio Valley, significant revenue is guaranteed to flow to schools and local government services. As part of an economic development deal between PTTGCA and local governments, the project would invest $47.5 million over 15 years in education and other community needs while also generating more than $20 million in sales tax revenue during construction.
PTTGCA disclosed estimates of approximately 450 direct and indirect permanent jobs for the project. In addition, thousands of workers would be hired to build the plant over the four- to five-year period once it commenced.
Belmont County, Mead Township and Shadyside Schools approved Ohio Enterprise Zone Program agreements for PTTGCA today that will result in payments of $38 million to the school district over the 15-year life of the agreement. Mead Township would receive $9.5 million during the same period. Meanwhile, Belmont County is estimated to receive between $20 million and $24 million in sales tax revenue from the purchase of goods and equipment during the construction phase. The Ohio Department of Development’s Ohio Enterprise Zone Program would provide the project with a 15-year property tax exemption.
February 28, 2020
The first phase of site preparation, engineering and design work has been successfully completed, and activity on the site will be significantly reduced for the next two or three months as PTTGC America works toward finalizing project financing and supply agreements. The next phase of this project will begin closer to a final investment decision, which PTTGC America anticipates will come in the first half of 2020.
December 4, 2019
PTTGC Board Chairman Piyasvasti Amranand, CEO Dr. Kongkrapan Intarajang and fellow board members met with at the Ohio Statehouse with Governor Mike DeWine and Lieutenant Governor Jon Husted to provide them a project on the proposed Ohio Petrochemical Complex Project.
February 21, 2019
A delegation of company executives, including Daelim Industral Company Limited Chief Executive K.S. Kim, Daelim CEO and Vice Chairman Sean Kim, Daelim Chairman Haewook Lee, PTTGC America President and CEO Toasaporn Boonyapipat and PTTGC America General Manager Panod Awaiwanond visited Columbus to meet with Ohio Governor Mike DeWine, Ohio Lieutenant Governor Jon Husted and other state leaders.
December 27, 2018
The Ohio Environmental Protection Agency completed its environmental review of the proposed petrochemical complex in Dilles Bottom with the issuance of a modified wastewater discharge permit Dec. 27 and of an air permit Dec. 21.
“Ohio EPA is proud to be part of the effort to bring critical jobs to Ohio,” said Ohio EPA Director Craig W. Butler. “We have been careful to ensure this facility will not have an adverse impact on the air, water or health of the surrounding communities.”
Ohio EPA held a public information session and hearing in Belmont County for the air permit Nov. 27 and for the modified water permit Dec. 12. The agency considered all comments received before making final decisions on both permits.
March 12, 2018
PTTGC America announced production is now estimated at 1.5 million metric tons per year, which is at least 500,000 metric tons per year more than was previously anticipated. The plant will result in more capital investment and more jobs.
“Building this massive ethane cracker plant here will be a game changer, not only for Eastern Ohio, but for the entire state as it will create so many new opportunities for economic development,” Governor John R. Kasich said. “Today’s announcement is an encouraging step forward for this project and that’s good news for Ohio families.”
Although a final investment decision on the project has not yet been made, PTTGC America already has invested more than $100 million on the project in preparation for the proposed plan.
“The investment plans include significantly more ethylene output at a larger facility that would have a greater economic impact throughout the state for decades to come,” said John Minor, JobsOhio president and chief Investment officer. “Ohio has the energy resources and attractive business climate, and now this potential joint venture between two world-class companies.”
PTTGCA is on track to acquire the property needed for the project. Once the company close on the purchase of a 300-acre parcel, targeting in April, the companies will own almost 500 acres of needed land to build the complex.
February 9-10, 2016
A delegation of company executives, including Kongkrapan Intarajang, executive vice president for international business operations for PTTGC; Toasaporn Boonyapipat, president and CEO of PTTGC America; Sermsak Sriyaphai, executive advisor of PTTGC America; and Panod Awaiwanond, general manager of PTTGC America, visited Columbus to meet with Ohio Lt. Gov. Mary Taylor and other state leaders.
February 8-9, 2016
A delegation of company executives, including Kongkrapan Intarajang, executive vice president for international business operations for PTTGC; Toasaporn Boonyapipat, president and CEO of PTTGC America; Sermsak Sriyaphai, executive advisor of PTTGC America; and Panod Awaiwanond, general manager of PTTGC America, visited the project site in Mead Township and met with community leaders from both Belmont County and northern West Virginia.
November 12, 2015
INEOS Technologies announced that it has licensed its Innovene™ Process for the manufacture of medium-density and high-density polyethylene to PTTGC America at its proposed petrochemical complex in Belmont County.
October 28, 2015
Technip SA announced that it has entered into a contract to supply its proprietary ethylene technology and PDP(1) to PTTGC America for the proposed petrochemical complex in Belmont County.
September 3, 2015
PTT Global Chemical Public Company Limited President and CEO Supattanapong Punmeechaow met with Gov. John Kasich and other state and local officials at the Ohio Statehouse to announce that PTTGC America will invest $100 million to conduct detailed front-end engineering design for a world-scale petrochemical complex on the west bank of the Ohio River in Belmont County.
September 3, 2015
PTTGC America confirmed that contracts have been signed by Fluor Corporation and Bechtel Enterprises Holding Inc., two world-class engineering, procurement and construction firms that will separately conduct their respective front-end engineering design work.
April 22, 2015
Gov. John R. Kasich announced that PTTGC America has selected a site in Belmont County for the possible construction of a world-scale petrochemical complex.