Last updateThu, 20 Sep 2018 3pm


Atlantic Shore Pipeline Cleared for Construction

The $6 billion+ Atlantic Coast natural gas pipeline “from West Virginia to Virginia and North Carolina remained on track to enter service in late 2019 after federal regulators approved the start of construction for the project in North Carolina,” Reuters  reports.

“The 600-mile (966-km) Atlantic Coast project is designed to carry about 1.5 billion cubic feet per day (bcfd) of gas from the Marcellus and Utica shale formations in Pennsylvania, West Virginia and Ohio to customers in Virginia and North Carolina.” 

Chemicals Spur U.S. Commercial, Industrial Activity

The Chemical Activity Barometer (CAB) rose 0.1% in July on a three-month moving average basis, improving upon June and May performances which were essentially flat. The barometer is up 3.9% year-over-year, a slower pace than of that earlier in the year. The unadjusted CAB also increased, notching a 0.2% gain, up from a 0.1% gain in June. July readings indicate a continued expansion of U.S. commercial and industrial activity well into the first quarter 2019.

All four broad categories remained strong. Production-related indicators in July were mixed as trends in construction-related pigments and related performance chemistry were slightly positive. 

Shintech Announces $1.49 Billion Expansion in Louisiana

Shintech Louisiana LLC will invest $1.49 billion to develop a new chlor alkali and vinyl chloride monomer production facility and to expand an existing polyvinyl chloride manufacturing facility in Plaquemine, LA. The company is a wholly owned subsidiary of Shin-Etsu Chemical Co. Ltd., the world’s largest PVC producer. The expansion is expected to be completed in late 2020 and operational in early 2021.

When this new project is in place, Shintech will have invested $6 billion to deliver the largest integrated complex in the U.S. for producing PVC, vinyl chloride monomer and chlor alkali. 

ExxonMobil, Plains All American Pursuing Joint Venture

ExxonMobil and Plains All American Pipeline, L.P. have signed a letter of intent to pursue the creation of a joint venture to construct a pipeline to transport crude oil and condensate from multiple locations in the Permian basin to the Texas Gulf Coast.

The proposed common carrier pipeline would be designed to ship more than 1 million barrels of crude oil and condensate per day to market destinations in Texas.

The pipeline would originate in both Wink and Midland, TX with delivery points in Webster, Baytown and Beaumont, TX. A priority would be placed on using existing pipeline corridors to help limit potential community and environmental disruptions. 

Electricity Investments Surpass Oil, Gas for Second Straight Year

The electricity sector attracted the largest share of energy investments in 2017, sustained by robust spending on grids, exceeding the oil and gas industry for the second year in row, as the energy sector moves toward greater electrification, according to the International Energy Agency’s latest review of global energy spending.

Global energy investment totaled $1.8 trillion in 2017, a 2% decline in real terms from the previous year. More than $750 billion went to the electricity sector while $715 billion was spent on oil and gas supply globally.

Meanwhile, government policies are playing a growing role in driving private spending. Across all power sector investments, more than 95% of investment is now based on regulation or contracts for remuneration. 

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