16-01-2014

NOVA Chemicals announces utilization of Marcellus Shale sourced ethane at its Ontario cracker

NOVA Chemicals Corporation (NOVA Chemicals) today celebrated its commitment to the Sarnia, Ontario region during a ceremony to commemorate the first barrels of ethane sourced from the Marcellus Shale Basin being utilized at its Corunna, Ontario cracker.

NOVA Chemicals began consuming this new feedstock in late December 2013 as part of a project to revamp its Corunna, Ontario cracker to utilize up to 100% natural gas liquid feedstock in line with its strategy to ensure the long-term economic viability of its Ontario assets.

“The introduction of Marcellus Shale ethane into the feedstock diet at our Corunna cracker marks a tremendous milestone in our journey to utilize more cost-competitive feedstock in Ontario, which should result in stronger and more consistent financial performance for our Ontario-based assets,” stated NOVA Chemicals CEO Randy Woelfel. “This is a critical component to our NOVA 2020 growth strategy of capitalizing on new feedstock sources to meet our current needs and expanding customer demands.”

“We are excited to be the first petrochemical company to use this emerging feedstock source as we move toward the completion of our cracker revamp and increase the volumes of ethane consumed through the quarter. Our cracker revamp coupled with the availability of new, cost-competitive feedstock sources creates a great foundation for our recently announced growth plans in the Sarnia, Ontario region,” commented Tom Thompson, NOVA Chemicals Manufacturing Leader Sarnia.

“I want to congratulate NOVA Chemicals on its success in drawing the first barrels of ethane into its Corunna site and diversifying the feedstock supply to the Sarnia-Lambton chemical and manufacturing cluster,” said the Honourable Dr. Eric Hoskins, Minister of Economic Development, Trade and Employment. “NOVA Chemicals is a key partner and anchor company in the region that has shown strong support for Ontario’s manufacturing sector by investing here as part of its long-term growth strategy. Attracting investments from global players like NOVA Chemicals is part of the Ontario government's economic plan to create jobs by supporting a dynamic and innovative business climate.”