More Natural Gas Consumption Coming

From the Exxon Mobil earnings call:

"Exxon Mobil Chemical filed permit applications to progress plans for a world scale, petrochemical expansion that our integrated Baytown, Texas complex. The project includes a new ethane cracker with up to 1.5 million tons per annum on ethylene capacity, which will see two new 650,000 tons per year premium polyethylene lines situated at the nearby Mont Belvieu plastics plant. The proposed expansion capitalizes on the abundant and growing supply of North America natural gas liquids to economically supply the rapidly growing global demand for high performance polyethylene products. These metallocene based premium resins deliver sustainability benefits such as lighter packaging weight, lower energy consumption, and reduced emissions. Required government reviews and approvals are expected to take about a year after which Exxon Mobil will make a final investment decision. If progressed, a 2016 start-up would be anticipated."