Odebrecht Organization, the Brazilian conglomerate specializing in petrochemicals, and Braskem, the largest petrochemical company in Latin America, are teaming up on an American Petrochemical project called The Appalachian Shale Cracker Enterprise (Ascent).
Odebrecht is overseeing the construction of the facility and once complete, it is intended to serve as a petrochemical hub for Braskem. Antero Resources, an independent gas and oil company, will be supplying about 30,000 barrels a day of ethane, approximately half of the project’s gas needs. Currently, the project is going through economic and technical visibility studies and once approved, could be operational by 2019.
The project’s aim is to take advantage of the low cost of natural gas in the US because of the shale boom. The facility’s location in West Virginia is crucial because it is right in the area where the large reserves of the Marcellus and Utica shale are situated. This close proximity to suppliers will help reduce logistical costs.