Shale Gas Boom in the US

  • Author: ChemistryViews
  • Published: 15 September 2012
  • Copyright: Wiley-VCH Verlag GmbH & Co. KGaA
  • Source / Publisher: Businessweek
thumbnail image: Shale Gas Boom in the US

The U.S. advantage of the boom in shale gas is already showing up in earnings. The chemical unit of BASF, Ludwigshafen, Germany, saw operating profit decline 35 % in the second quarter, weighed down by input costs. Dow, Midland, USA,  paid about $1 billion less for its feedstock and energy costs in the period, according to a company presentation.

Shale gas and investments on the U.S. Gulf Coast are said to have the potential to drive earnings up by about $2 billion a year in 2017.
Dow this year approved a new ethylene cracker project fueled by local ethane. Chevron Phillips Chemical Co. is spending $5 billion on a new ethylene plant in Texas, USA, and two polyethylene plastic plants. BASF is adding a 10th furnace to its Port Arthur, Texas, cracker and a formic acid plant in Geismar, Louisiana, USA.

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