By the OGJ Online Staff
HOUSTON, Aug. 21 -- Chevron Phillips Chemical Co. LP, Houston, and Pequiven, a subsidiary of Petroleos de Venezuela SA, signed a letter of intent for a feasibility study for a styrene monomer plant in Paraguana, Venezuela.
The proposed plant would have capacity of 500,000 tonnes/year, which would be marketed in the Americas.
The feasibility study will be completed by yearend. Plant startup could be in 2007.
The proposed plant would be able to take advantage of the infrastructure and feedstock streams of the Paraguana Refining Complex. That complex has capacity of 955,000 b/d, or 72% of the national refining capacity.
The companies also said the new plant would benefit from Chevron Phillips Chemical's styrene marketing operations.
Chevron Phillips Chemical Co. LP is a 50:50 joint venture of Chevron Corp. and Phillips Petroleum Co.
