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Related Keywords: ethane and propane feedstock supply, gas cracker in Lake Charles, Indorama Ventures Public Company Limited, IVL, Lake Charles ethylene cracker, leading global chemical producer, Louisiana, mono ethylene glycol, purified ethylene oxide, signed long-term agreement, supplier of natural gas liquids, Targa Resources Corp, undergoing refurbishment

Indorama Ventures Public Company Limited (IVL), a leading global chemical producer has signed a long-term agreement with Targa Resources Corp, a leading supplier of natural gas liquids (NGLs) in Mont Belvieu, Texas for all of its ethane and propane feedstock supply requirements for the Company’s gas cracker in Lake Charles, Louisiana.

Under this agreement, Targa Resources Corp. will not only supply IVL with all its ethane and propane requirements but also provide storage for these gases locally at Lake Charles.

Related Keywords: air and water permits, ethylene, greenfield crackers, Indorama Ventures, Louisiana, modern production facility, mono ethylene glycol, proceed with construction, propylene, purified ethylene oxide, revamp abandoned ethane cracker, sat idle, site in Carlyss

Indorama Ventures to revamp the abandoned ethane cracker site in Carlyss, Louisiana, which has sat idle on a 250-acre site since 2001 took a critical step towards breaking ground at the dormant Occidental Chemical Corp and proceed construction investing $175 million after receiving the air and water permits required.

Officials with Indorama Ventures said that issuance of a water permit in June and air permit in August keeps it on track for a scheduled fourth quarter 2017 startup.

Related Keywords: CITI, excise duty, increase in demand, manmade fibre, MEG, mono ethylene glycol, per capita consumption, PTA, Purified terephthalic acid, synthetic fibre, Textile Industry

Globally, manmade fibre accounts for 70 percent of the fibre consumption while in India; it is less than 30 percent. The Indian textile industry to boost use of synthetic fibre want reduction in excise duty on all manmade fibre and filament from the existing 12 percent to 6 percent. As reduction in excise duty in manmade fibre will lead to increase in demand.

Related Keywords: diethylene glycol, DOW, Dow Chemical Company, EQUATE, Kuwait Olefins Company, Kuwait Styrene Company, MEG, MEGlobal, mono ethylene glycol

Dow Chemical Company (DOW) will reconfigure and reduce its equity base in the MEGlobal and Greater EQUATE joint ventures, including The Kuwait Olefins Company (TKOC) and The Kuwait Styrene Company (TKSC) in line with its prior announcement to rationalize its investments in certain joint ventures.

Dow expects this transition to be completed by mid-2015. While Dow will retain a substantial stake in these partnerships, this effort will open opportunities for new investment in these successful and growing enterprises.

Related Keywords: crude oil prices, ethylene price, MEG price, mono ethylene glycol, naphtha price, paraxylene price, polyester chip, polyester fiber, polyester filament, Polyester prices, polyester spun, polyester yarn, PTA price, Purified terephthalic acid

In the week ended 5 September, crude oil prices climbed more than US$2 early in the week as the markets bounced off several month lows hit in the previous week. Also prospects for peace in CIS and a strong US data raised demand expectations. Weaker US$ and expectations of a decline in US crude stocks also supported prices. However, the oil complex settled lower on the week after a ceasefire agreement in Ukraine helped minimize risk premium, while concerns remain over the impact of Russian sanctions on European demand.