Project Profile
Value: Undisclosed
Location: Grangemouth area, council area of Falkirk, Scotland, UK
Area: unknown
Capacity: 700,000 tonnes per year (t/y) of ethylene
Start-up Year: -
Consol Energy Inc. (Consol) and Range Resources Corporation (RRC or Range Resources) signed long term agreements with the Swiss registered petrochemical company Ineos Group AG (Ineos) to import shale gas from the USA to supply its ethylene cracker at Grangemouth complex in council area of Falkirk, Scotland, UK. This brownfield Grangemouth ethane cracker project is one of the first example illustrating how the competitive shale gas produced in US can help to restore the European petrochemical industry. In October 2013, Ineos was about to close this Grangemouth petrochemical complex, one of the largest in Europe. Not only the gas prices in Europe are higher than in US, but the decline of the maturing fields in the UK North Sea is reducing by 50% the available capacity of natural gas to feed Ineos crackers at the scale of Grangemouth complex. In securing competitive feedstock from Consol and Range Resources, landed in UK at about 50% below current North Sea prices, Ineos is now able to reconsider the future of this critical petrochemical complex to make it running at the optimal capacity of 700,000 tonnes per year (t/y) of ethylene.
Operators:
Ineos Group AG (Ineos) : Operator with 100% interest
Contractors:
Consol Energy Inc. (Consol) and Range Resources Corporation (RRC or Range Resources): Ethylene cracker feedstock suppliers