Nova, Aux Sable to develop ethane plant |
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Wed, 21 Mar 2007 23:08
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PITTSBURGH (AP) - Nova Chemicals Corp. said Wednesday it agreed to develop a Canadian ethane extraction plan with Aux Sable Canada Ltd.Aux Sable will own and operate the plant, which will be located in Alberta and process natural gas from the Alliance Pipeline.The companies expect the plant to begin operations in mid-2010 and to have the capacity to process as much as 1.2 billion cubic feet of natural gas per day and produce about 40,000 barrels per day of ethane. The plant's ethane will move via pipeline to Nova Chemical's Alberta petrochemical complex for use as a feedstock in ethylene production.Nova Chemicals rose 47 cents to close at $33.03 on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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