Last updateMon, 25 Mar 2019 8pm


Golden Pass LNG Export Project Proceeding

ExxonMobil and partner Qatar Petroleum have made a final investment decision to proceed with development of the Golden Pass LNG export project located in Sabine Pass, TX. Construction will begin in the first quarter of 2019 and the facility is expected to start up in 2024.

The $10+ billion liquefaction project will have capacity to produce around 16 million tons of LNG per year. Preliminary estimates by an independent study indicate the project could generate up to $31 billion in U.S. economic gains and more than $4.6 billion in direct federal, state and local tax revenues over the life of the project.

Golden Pass is part of ExxonMobil’s plans to invest more than $50 billion over the next five years to build and expand manufacturing facilities in the U.S. This includes the Growing the Gulf initiative. 

ExxonMobil, Partners Building Wink to Webster Pipeline

ExxonMobil, Plains All American Pipeline, L.P. and Lotus Midstream, LLC have ordered nearly 650 miles of 36-inch-diameter line pipe. The new common-carrier pipeline system will provide more than 1 million barrels per day of crude oil and condensate capacity and will be constructed from the Permian Basin in West Texas to the Texas Gulf Coast.

The Wink to Webster Texas-based pipeline system will have origin points at Wink and Midland to multiple locations near Houston, including Webster and Baytown, with connectivity to Texas City and Beaumont. The project is underpinned by a significant volume of long-term commitments and is targeted to commence operations in the first half of 2021. 

U.S. Specialty Chemicals Market Ends Quarter on Solid Note

The American Chemistry Council (ACC) reported that U.S. specialty chemicals market volumes ended the fourth quarter of 2018 on a solid note, rising 0.6% in December after a 0.3% gain in November and a 0.2% gain in October. All changes in the data are reported on a three-month moving average (3MMA) basis. Performance chemistry reflects trends in manufacturing. Of the 28 specialty chemical segments ACC monitors, 19 segments expanded in December.

For 2018 as a whole, the overall specialty chemicals volume index was up 4.4%. Segments with strongest gains were oilfield chemicals, electronic chemicals, corrosion inhibitors and flavors and fragrances (tied), cosmetic chemicals, and foundry chemicals. 

Chevron to Buy Texas Refinery from Petrobras

“Chevron Corp has agreed to buy a Texas oil refinery with a troubled past and space to handle a coming flow of shale from its West Texas operations,” sources tell Reuters.

“The rapid expansion of U.S. shale production from the Permian Basin of West Texas and New Mexico has stirred demand for new U.S. refining capacity and crude-export facilities. Oil output has soared to an estimated 3.8 million bpd this month, from 1.48 million five years ago.” 

$600M Petrochemical Project Proposed in Pasadena, TX

According to documents filed with the state of Texas, a Houston-based company “is proposing to build a nearly $600 million petrochemical project in Pasadena,” The Houston Chronicle reports.

“Next Wave Energy LP wants to build a manufacturing facility that would produce olefins, a key component of a variety of chemical and plastic products, and alkylate, a high-octane hydrocarbon used to produce motor and aviation gasoline. The project would be built on an undeveloped 53-acre tract off Pasadena Highway, according to documents filed with the Texas Comptroller's office.” 

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