Shale Gas Pow­ers US Chem­i­cal In­dus­try Growth

Chemical Industry Digest - - News & Views -

Shale gas is nat­u­ral gas that is found within shale for­ma­tions. It has be­come an in­creas­ingly im­por­tant source of nat­u­ral gas in the United States. Its easy avail­abil­ity and lower cost has re­sulted in 333 chem­i­cal in­dus­try projects val­ued at $202.4 bil­lion. 53% of the in­vest­ment is com­pleted/un­der con­struc­tion, and 41% is in the plan­ning phase.68% of the to­tal is di­rect for­eign in­vest­ment or in­cludes a for­eign part­ner, the Amer­i­can Chem­istry Coun­cil (ACC) re­ported. Project types in­clude new fa­cil­i­ties and ca­pac­ity ex­pan­sions, Kal­lan­ish En­ergy learns.

ACC anal­y­sis shows $202.4 bil­lion in cap­i­tal spend­ing could lead to $292 bil­lion an­nu­ally in new chem­i­cal and plas­tics in­dus­try out­put and sup­port 786,000 jobs across the econ­omy by 2025 in the US.

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