Exxon and Sabic Hit Milestone for Texas Project
The monoethylene glycol unit and two polyethylene units at the Gulf Coast Growth Ventures (GCGV) project near Corpus Christi, Texas, have reached mechanical completion, GCGV co-venturers ExxonMobil (NYSE: XOM) and SABIC reported Monday.
“Gulf Coast Growth Ventures is a key development of our plan to serve growing demand for our high-value performance products,” ExxonMobil Chemical Co. President Karen McKee remarked in a written statement emailed to Rigzone. “This is truly a best-in-class project, as demonstrated in scheduled acceleration and cost competitiveness, despite the many challenges related to the COVID-19 pandemic.”
ExxonMobil stated that it expects project start-up in the fourth quarter of this year. The firm noted the three new units will produce fundamental chemicals used in medical, automotive, and packaging products. It pointed out the completed facility will produce 1,100 kilotons of monoethylene glycol and 1,300 kilotons of polyethylene per year.
“We are proud to bring GCGV one step closer to operations,” commented Abdulrahman Al-Fageeh, SABIC’s executive vice president of petrochemicals. “Not only are we ahead of schedule, but we have executed this project with the highest commitment and emphasis on safety with nearly 18 million safe person-hours worked, all while acting on the promises we made to the community when we started this journey four years ago.”
The GCGV project includes a 1.8-million-metric-ton ethane steam cracker, noted ExxonMobil. The company added that it expects the project to be delivered under budget and approximately 25% less than the average cost of similar U.S. Gulf Coast projects.
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