Chevron Phillips Chemical Executive Vice President Mark Lashier today said an expanding global middle class will drive demand for plastic consumer products, supporting long-term growth in the petrochemical industry. Lashier said in a panel discussion at IHS CERAWeek a “one-two combination” of strong demand and cheap feedstock has given his company an enthusiastic long-term view for petrochemicals.
Chevron Phillips is eyeing a 2017 startup for its $6 billion Gulf Coast Petrochemicals Project, which includes an ethane cracker in Baytown, Texas, and two world-scale polyethylene units in Old Ocean, Texas.
Lashier acknowledged the need to “take a deep breath” amid global economic uncertainty, but said Chevron Phillips is still on the lookout for its next major investment.
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