HOUSTON and LONDON,
March 24, 2015 /PRNewswire/
-- LyondellBasell (NYSE: LYB) announced today plans to expand
Tri-ethylene Glycol (TEG) production capacity at the company's
existing ethylene oxide and ethylene glycol plant in Pasadena,
Texas.
The additional capacity of 50 million pounds per year would more
than double the company's current production
capacity. Engineering is already underway on the new unit,
which is anticipated to be operational in late 2016. It is expected
to be one of the world's largest on-purpose TEG production units,
meaning the TEG is produced by design and not as a by-product of
another manufacturing process.
"The long-term demand for Tri-ethylene Glycol in oil-field,
construction and automotive markets in North America, along
with the company's feedstock integration to ethylene and ethylene
oxide, makes this project a logical extension of our high-value
glycol derivative businesses," said Pat
Quarles, LyondellBasell executive vice president of
Intermediates and Derivatives, Supply Chain and Procurement.
TEG is a colorless, odorless glycol that is used to dehydrate
natural gas and as an additive in hydraulic and brake fluids, among
other uses. The company's Bayport Underwood plant in Pasadena
produces ethylene oxide, ethylene glycol, glycol ethers and other
products. Glycol ethers are used to manufacture brake fluid,
dyes, paint, solvents, commercial cleaners and waxes, detergents
and cosmetic bases. Ethylene glycols are used as intermediate
chemicals to produce polyester (PET) fibers, films and bottles.
This press release may contain forward-looking statements within
the meaning of the Securities Act of 1933, as amended, and the
Securities Exchange Act of 1934, as amended. Such forward-looking
statements are subject to certain risks and uncertainties, as
disclosed by LyondellBasell from time to time in its filings with
the Securities and Exchange Commission, including its most recent
Annual Report on Form 10-K. As a result of these factors, among
others, actual results may differ materially from those indicated
or implied by such forward-looking statements. The statements
contained in this release reflect management's good faith beliefs
as of the date of the release. Except as required by law,
LyondellBasell undertakes no obligation to update any
forward-looking or other statements in this release, whether as a
result of new information, future events or otherwise.
LyondellBasell (NYSE: LYB) is one of the world's largest
plastics, chemical and refining companies. The company
manufactures products at 55 sites in 18 countries. LyondellBasell
products and technologies are used to make items that improve the
quality of life for people around the world including packaging,
electronics, automotive parts, home furnishings, construction
materials and biofuels. More information about LyondellBasell
can be found at www.lyb.com.
Logo - http://photos.prnewswire.com/prnh/20140416/75605
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/lyondellbasell-to-expand-production-capacity-of-tri-ethylene-glycol-300054781.html
SOURCE LyondellBasell Industries