PTTGC America recently announced it is proceeding with a precedent agreement with Mountaineer NGL Storage, a wholly owned subsidiary of Energy Storage Ventures, regarding a proposed petrochemical complex in the Ohio Valley.
The 200-acre site in Ohio’s Monroe County is approximately eight miles south of a PTTGCA project site and is owned and operated by Mountaineer.
Under the agreement, Mountaineer will develop underground salt caverns for natural gas liquids storage. The facility will store 1 million barrels of ethane while a pipeline will connect the facility to PTTGCA’s project.
Terms and conditions in the agreement outline the development of the facility and transportation services.
“We are pleased to partner with PTTGCA as it works toward the development of the second petrochemical plant to be located in the Ohio River Valley,” David Hooker, Mountaineer NGL Storage president, said. “Our storage facility will have an important role in managing the plant’s supply portfolio, along with offering PTTGCA and other prospective customers an option to manage seasonal and operational demand with competitive locally priced production. The PTTGCA team has been great to work with, and we look forward to a long and successful relationship.”
The facility will be developed in two phases and will cost $250 million. Each cavern will be able to store approximately 500,000 barrels.