NOVA inks ethane supply deal from Marcellus shale
NOVA Chemicals said it signed a memorandum of understanding with a wholly-owned subsidiary of Range Resources for a long-term supply of ethane from the Marcellus shale basin.
“We are very pleased to be working with Range Resources as one of the key feedstock suppliers for our Corunna cracker,” said Randy Woelfel, chief executive officer.
“With the execution of this memorandum of understanding, we have made significant progress towards realizing our goal of assuring our Corunna cracker is the destination of choice for Marcellus-based natural gas liquids,” he added.
In addition to finalizing a definitive purchase and sale agreement with Range Resources and customary reviews and approvals, the arrangement is subject to NOVA Chemicals finalizing a pipeline transportation agreement to transport ethane from the Marcellus shale basin into the Sarnia, Ontario petrochemical market.
Financial terms were not disclosed.
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