Shell sees 70%-complete Pennsylvania petchem project operational in 2022
- Royal Dutch Shell (RDS.A, RDS.B) says its $6B petrochemical complex in northwest Pennsylvania is now more than 70% complete and projected to be operational sometime in 2022.
- Shell previously projected the startup in this year’s H1 after suspending work in March 2020 due to pandemic concerns.
- The project is one of the largest construction sites in North America and includes a 1.6M mt/year cracker and three polyethylene plants with a combined capacity of 1.6M mt/year.
- Portions of the site’s water treatment facility are being commissioned and the site’s 250 MW power plant will soon follow, the company says.
- Shell has “hit peak oil, but not peak opportunity,” as its impressive portfolio of assets should drive long-term shareholder returns in the tens of billions of dollars, The Value Portfolio writes in a bullish analysis posted on Seeking Alpha.