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SUPPLY/DEMAND

US Petchem Sector Unbowed by Soaring Gas, NGL Prices

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In 2019, when the giant Gulf Coast Growth Ventures petrochemical plant in South Texas was sanctioned, natural gas prices in the nearby Permian Basin were well under $1 per million Btu. This was considered quite a boon as the ethane steam cracker was the largest ever built anywhere and capable of consuming around 110,000 barrels per day of ethane and 110 million cubic feet per day of then-cheap gas.

Topics:
Gas Demand, NGL/LPG, Gas Prices
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