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Chinese company gets approval for $4 billion plant to use U.S. gas

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Christian Fernsby ▼ | August 30, 2019
Zhejiang Satellite Petrochemical has got regulatory approval to start building a 30 billion yuan ($4.2 billion) petrochemical complex in east China to process ethane from the U.S.
Zhejiang Satellite Petrochemical
Asia   Zhejiang Satellite Petrochemical
Zhejiang Satellite Petrochemical’s plant will be the second China-based petrochemical facility aiming to cash in on cheap and abundant US ethane unlocked by the shale revolution in North America, analysts said.

Topics: U.S. gas Chinese

The approval from the Jiangsu provincial government in early August comes amid the Beijing-Washington trade war, which led to a tariff being imposed on US crude oil for the first time last week. â–