DAILY NEWS Jan 20, 2014 1:27 PM - 0 comments

Nova utilizes Marcellus Shale-sourced ethane at its Ontario cracker

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2014-01-20

The first barrels of ethane sourced by Nova Chemicals from the Marcellus Shale Basin have now been utilized at Nova’s Corunna, Ontario cracker.

According to Calgary-based Nova, the chemical maker began consuming this new feedstock in late December 2013 as part of a project to revamp the Corunna cracker to utilize up to 100 per cent natural gas liquid feedstock, in line with what the company calls its “strategy to ensure the long-term economic viability of its Ontario assets.”

“The introduction of Marcellus Shale ethane into the feedstock diet at our Corunna cracker marks a tremendous milestone in our journey to utilize more cost-competitive feedstock in Ontario, which should result in stronger and more consistent financial performance for our Ontario-based assets,” said Nova CEO Randy Woelfel. “This is a critical component to our NOVA 2020 growth strategy of capitalizing on new feedstock sources to meet our current needs and expanding customer demands.”

“I want to congratulate Nova on its success in drawing the first barrels of ethane into its Corunna site and diversifying the feedstock supply to the Sarnia-Lambton chemical and manufacturing cluster,” said the Honourable Dr. Eric Hoskins, Minister of Economic Development, Trade and Employment, in a statement. “Nova is a key partner and anchor company in the region that has shown strong support for Ontario’s manufacturing sector by investing here as part of its long-term growth strategy. Attracting investments from global players like Nova is part of the Ontario government's economic plan to create jobs by supporting a dynamic and innovative business climate.”



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