Range Resources Corp. announced it has signed an agreement that would make it an anchor supplier of a proposed cracker plant in the Ohio Valley.
The Fort Worth, Texas-based company said Wednesday it has reached a long-term ethane supply accord with PTTGC America LLC, which plans to build an ethylene cracker along the Ohio River in Dilles Bottom, Ohio.
That agreement, according to a news release from Range, is contingent upon PTTGCA reaching a final investment decision, which is expected early next year.
Jeff Ventura, Range Resources’ chief executive officer and president, said in a statement: “We are pleased to help support a world-class project that brings additional jobs to Appalachia, while utilizing our low-cost natural gas resources.
He said his company, which has regional headquarters in Southpointe, views this project as “a win-win-win for Range, PTTGCA and the many communities in the Northeast that will benefit from the economic boost this facility provides.”
Ventura said the ethane his company would supply to PTTGCA “will be sourced from existing natural gas production and NGL processing facilities with the benefit of no additional transportation required. Range will also receive a significant revenue uplift compared to selling into the natural gas stream.”
Toasaporn Boonyapipat, president and CEO of PTTGCA, said in a statement: “We are excited to announce this agreement with Range Resources, a domestic leader in natural gas and natural gas liquids production. Range’s deep inventory of high-quality wells will provide our facility with a safe and reliable source of ethane in the years to come.”
PTTGCA is the U.S. subsidiary of PTT Global Chemical Public Company Limited, based in Thailand.