NOVA Is considering a big $Billion Polyethylene Expansion using Marcellus Ethane
NOVA in Sarnia,Canada,is going to use the ethane shipped via Mariner West to replace oil based feedstocks to produce ethylene in an existing plant.in Corunna,Canada. The ethylene produced is used in two nearby plants to produce polyethylene. NOVA has now put out a plan for NOVA 2020 that envisions a major $Billion expansion of the Corunna plant along with a new solution based polyethylene plant. This new operation would go commercial within the next 4 years.
Nova Chemical. I shudder to think what might have been with this company. They had their NA Hdq's in PGH before Abu Dhabi either bought them or made a huge investment. Around 2006-2007 I had this Company high on my purchase list. By 2008 they were nearly bankrupt if not bankrupt. I remember their CEO talking about how glad he was that a Middle East Company was buying them as they would have feedstock. In the meantime their headquarters was setting right on top of the Super Rich Marcellus which has made RRC very profitable. Man six year is like a lifetime in this industry. So much can happen. I bet that the last thing NOVA was thinking about in 2008 is that their future supply of ethane was right under their nose.