PLASTICS, PETROCHEMICAL and ENERGY
NEWS & UPDATES

Rice University’s Baker Institute has just issued a study entitled “Houston-Area Surge Flooding” and its effects on regional and national security. The study makes local, state, and federal officials aware of the flooding threats as the result of the increased storm activity in the Houston-area.
The study provides a thorough analysis of the flooding which result in a Category 3 Hurricane in the Houston-area. In presenting the flooding information, the study identifies the regional and national security threats that could result from the refineries and petrochemical plants being flooded. It states that 25% percent of all ethylene and propylene of all U.S. production will be affected by the flooding.  READ MORE >

“The recent announcement in the Shale Directories newsletter is really good news for the Ohio Valley,” stated Bryce Custer. MPLX announced it is moving forward with its underground storage facility in Hopedale, Ohio and it could be operation by 2021. Millions of dollars will be spent building out this facility.

When this development is combined with the PTTGC cracker plant announcement, the demand for real estate will rise significantly in a very short period. Custer commented, “I strongly encourage any company thinking about investing in the Ohio Valley that now is the time to move. Waiting six months may be too late.” READ MORE >

NAI Ohio River Corridor has expanded their team and commercial real estate services with the addition of Renay Sanders, commercial specialist and the promotion of Laurie Stanbro to vice president of Brokerage Operations. “Since locating our office to Tuscarawas County and our continued focus on the emerging petrochemical and plastics industries, we realized the need to restructure to better serve our clients.” said Bryce Custer, SIOR, CCIM. READ MORE >

Investment in the energy-rich shale sector in eastern Ohio continues to grow, reaching $74 billion since 2011, according to a report commissioned by JobsOhio. The quarterly report, done by Cleveland State University’s Energy Policy Center at the Maxine Goodman Levin College of Urban Affairs, shows that about two-thirds of that investment has been in drilling, land acquisition, building roads and other expenses tied to the “upstream” portion of oil and gas production.  READ MORE >