Phillips 66 Approves Funding for Two Midstream Projects in Southeast Texas – $3 Billion

Projects Will Create 50 Full-Time and 1,000 Temporary Construction Jobs
Sweeny, TX Refinery Phillips 66

Sweeny, TX Refinery Phillips 66 | Click to Enlarge

Funding for two Southeast Texas midstream projects was approved in early February 2014 by Phillips 66’s board of directors. Costs for the construction of a fractionator in Old Ocean, TX, announced in August of 2013, and a liquefied petroleum gas export terminal in Freeport, TX, are an estimated $3 billion combined.

According to Phillip’s 66, the projects will create more than 50 full-time jobs and over 1,000 temporary construction jobs.

Read morePhillips 66 Plans Gulf Coast Fractionator

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Freeport LNG Looking For Financing – Planning Gas Exports

Alos Seeking Approval To Expand From 1.4 To 2.8 Bcfd
Freeport TX LNG

Freeport, TX | Click to Enlarge

Freeport LNG is looking to raise more than $7.5 billion to begin construction at its proposed LNG export facility in Freeport, TX.

The Energy Department has approved 1.4 Bcfd in exports at the site and the company is seeking approval for an additional 1.4 Bcfd. The facility still needs FERC approval and expects to know more in 2014. If everything goes as planned, one export train a year will come online starting in 2017. [Read more…]

Dow Chemical’s Propylene Plant Gets Approval – Eagle Ford Feedstock

Dow Chemical’s board has authorized the company to finalize the engineering plans and to begin purchasing equipment for a “world-scale” propylene plant near the company’s Freeport Complex in Texas.  You can read more about why a new petrochemical plant makes sense in a recent article published here – Eagle Ford NGLs Adding to U.S. Supply Growth.

The announcement is a big step in what is really becoming a petrochemicals renaissance in our country. It was just a few years ago that industry experts thought there would never be another pet-chem plant built in the U.S., but that was before the shale plays really burst onto the scene. The Eagle Ford, along with many others, have changed the cost of doing business in our country. That’s a big win and this is why:  [Read more…]