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

Christian Fernsby |
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.

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Topics: U.S.    GAS    CHINESE   

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.

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– 

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