Odfjell : Terminals continues development of possible ethylene export terminal at its Houston facility in Texas
February 23, 2017 at 12:12 am EST
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The contract has been granted to JGC America, Inc., a wholly owned subsidiary of Japanese engineering contractor JGC Corporation. With this agreement, Odfjell Terminals enters into the last phase of engineering before the final investment decision.
In the US, many new ethane crackers have been announced and are under construction as a result of the shale gas revolution, which provides US crackers a significant feedstock advantage compared to crackers in Europe and Asia. To date, there are no efficient export facilities for ethylene in the US. The ethylene terminal will allow producers, consumers and traders to export ethylene to other parts of the world. The terminal in Seabrook is ideally located nearby all major ethylene pipeline corridors, and has land available for expansion with marine infrastructure.
'We strongly believe that Odfjell Terminals' ethylene facility can open global markets for ethylene produced in the US. It will provide producers, traders and consumers the opportunity to take advantage of the competitive cost price of US produced ethylene. Our terminal in Seabrook is in an excellent location at the entrance of the Houston Ship Channel, and allows unrestricted access for ethylene carriers to our dedicated ship dock. The high loading rates of our terminal will ensure swift turnaround times of our customer's vessels', said Frank Erkelens, CEO of Odfjell Terminals.
About Odfjell Terminals: Odfjell Terminals is a global provider of tank storage services, owned by Odfjell SE (51%) and Lindsay Goldberg LLC (49%). Odfjell Terminals' strategy is to grow within its current footprint of terminals, especially in Rotterdam and Houston. A key objective is to harvest synergies with Odfjell Tankers. The group's current capacity is 3.5 million CBM of storage space with ~950 tanks.
Odfjell Terminal operates nine tank terminals, which are located in key ports around the world. Odfjell Terminals offers in Rotterdam a toll distillation service for the petrochemical and petroleum industry (PID). The terminal network also includes a cooperation agreement with a group of tank terminals in South America, partly owned by related parties.
About JGC:
JGC is a global engineering, procurement and construction firm committed to delivering services to their clients, while providing safe and cost-effective project execution. JGC's worldwide footprint includes having executed 20,000 projects in more than 80 countries. From conception to commissioning, the company partner with clients to deliver successful engineering, procurement and construction programs. With the corporate slogan 'Engineering the Future', JGC intend to further promote the expansion of the industries they serve and contribute to economic progress, industrial advancement and sustainable growth throughout the world.
For media/press information, please contact:
Ctc: Joe Nassif, President Odfjell Terminals Houston and Odfjell USA
Tel: +1 713 844 2351
E-mail: info.ethylene@odfjell.com
For other requests, please contact:
Ctc: Yann Bigot, Director Project Development, Odfjell Terminals
Tel: +1 281 204 6014
E-mail: info.ethylene@odfjell.com
Odfjell SE published this content on 22 February 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 23 February 2017 05:12:11 UTC.
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Odfjell SE is a Norway-based company engaged in the marine industry. The Company is engaged in the provision of seaborne transportation and storage of chemicals and other specialty bulk liquids. The Company has two reportable operating segments: Chemical Tankers and Tank Terminals. The Chemical Tankers involve around the world' service, servicing ports in Europe, North and South America, the Middle East and Asia, Australia and Africa. The Tank Terminals segment offers storage of various chemical and petroleum products and is operated through joint ventures with its share owned by the subsidiary Odfjell Terminals BV. In addition, this segment plays an important operational role in cargo consolidation program so as to reduce the time its vessels spend in ports, reduce thereby emission in port, and enable the Company to be one of the world leaders in combined shipping and storage services.