PARIS--(BUSINESS WIRE)--Regulatory News:
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) announced today that it has entered into a contract to supply its proprietary ethylene technology and PDP(1) to PTTGC America LLC (PTTGCA), a subsidiary of PTT Global Chemical, Thailand’s largest integrated petrochemical and refining company, for a 1,000 KTA grassroots ethane cracker to be located in Belmont County, Ohio, USA.
The plant, which will use low cost ethane from the region’s shale deposits, will be part of a major shale-based petrochemical complex to be built by PTTGCA, which is expected to make a final investment decision in 2016 or 2017.
Key technology components include Technip’s proprietary USC® furnaces preferred for high-capacity, low-cost gas cracking capabilities as well as Technip’s well-established ethylene recovery system.
The project will be executed by Technip’s operating center in Houston, Texas, USA.
Stan Knez, President, Technip Stone & Webster Process Technology, said: “As the largest ethylene licensor and contractor, Technip is pleased to bring its proven ethane cracking and process technologies and experience to this cracker, which is part of PTTGCA’s first world-scale petrochemical complex outside of Thailand.”
Previously, Technip provided technology and engineering for PTT Global Chemical’s 500 KTA ethylene plant in Map Ta Phut, Thailand, which began operations in 1994.
As a world leader in gas monetization, refining and petrochemicals, Technip has a portfolio of market leading process technologies, including ethylene.
(1)Process Design Package
Technip is a world leader in project management, engineering and construction for the energy industry.
From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 37,500 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.
Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.
Technip shares are listed on the Euronext Paris exchange and traded in the USA on the OTCQX marketplace (OTCQX: TKPPY) as American Depositary Receipts.