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Chevron Phillips Chemical delays the FID on its Gulf Coast petrochemical project

10/22/2020

Chevron Phillip Chemical (CP Chem) has reportedly chosen to delay a final investment decision (FID) on a proposed 2 million ton per year ethane cracker and a 2 million ton per year high-density polyethylene (HDPE) unit with its partner Qatar Petroleum. These two units would be designed under the proposed joint venture name of US Gulf Coast II with a start date originally expected in 2024. The effects caused by the COVID-19 pandemic were the cause of this delay.

This announcement comes after previous statements by CP Chem back in July when the FID was originally mentioned as a delay option. The partners had originally planned on a late 2020 or early 2021 FID, and the partners plan to work together on a new schedule for this decision.