Range Resources Anchors Ethane Supply for Appalachia Polyethylene Complex
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Range Resources has signed a long-term ethane supply agreement with PTTGC America to become an anchor supplier for a proposed world-scale ethylene cracker in Appalachia. This agreement is contingent upon PTTGCA reaching a final investment decision, which is expected in early 2021.
“We are pleased to help support a world-class project that brings additional jobs to Appalachia, while utilizing our low-cost natural gas resources,” said Jeff Ventura, Range’s CEO and president.
“Range views this project as a win-win-win for Range, PTTGCA and the many communities in the Northeast that will benefit from the economic boost this facility provides. Importantly, for Range, ethane supplied to PTTGCA will be sourced from existing natural gas production and NGL processing facilities with the benefit of no additional transportation required. Range will also receive a significant revenue uplift compared to selling into the natural gas stream,” added Ventura.
“We are excited to announce this agreement with Range Resources, a domestic leader in natural gas and natural gas liquids production. Range’s deep inventory of high-quality wells will provide our facility with a safe and reliable source of ethane in the years to come, and we look forward to additional partnerships with producers in the region to make this world-scale polyethylene complex a reality,” said PTTGCA President and CEO Toasaporn Boonyapipat.
“During construction and upon completion, this project will provide local communities with an abundance of new jobs and opportunities that will strengthen local economies, while the polyethylene produced at the facility can be used to create products that are critical to this nation, such as medical equipment and food packaging. We deeply appreciate the continued support that we have received from our federal, state and local partners,” added Boonyapipat.
The proposed polyethylene complex will represent one of the largest manufacturing investments in recent history for Appalachia. Range will supply 15,000 barrels per day of ethane to a facility that includes an ethylene cracker with ethane feed capacity of 100,000 barrels per day and multiple facilities for creating ethylene derivative products to supply demand in the Northeast.
About Range Resources
Range Resources is a leading U.S. independent natural gas and NGL producer with operations focused on stacked-pay projects in the Appalachian Basin. The Company pursues an organic development strategy targeting high return, low-cost projects within its large inventory of low risk drilling opportunities. The Company is headquartered in Fort Worth, Texas.
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