Ineos Union Ratifies Pact Needed to insure Marcellus Ethane at Grangemouth,Scotland.
Earlier today the militant union at the Ineos ethylene plant in Grangemouth,Scotland, agreed to revised work rules, lower pensions, and a 3 year no strike pledge required by mgmt to insure survival of the cracker operation through the use of low cost ethane from the Marcellus in the USA. With labor issues resolved, Ineos will proceed to install the equipment/tanks needed to convert the operation from naptha derived from North Sea oil to imported ethane. Without union approval, Ineos was closing the plant putting 2,000 employes out of work. Timing for ethane imports is early 2016...Mariner East 2 is projected to be completed by then,too. A big cracker takes around 50,000 barrels/day of ethane. A nice Christmas present for MWE,SXL,and producer customers!