NOVA 2020 is NOVA Chemicals long-term asset strategy to capitalize on emerging feedstock opportunities and growing North American demand.
NOVA 2020 lays out the strategic direction and vision of our organization. As we evolve our asset base to support leadership in the markets we serve, this endeavor will not only help deliver more capacity to our customers, but also maximize the value generated by our business.
In 2011, NOVA Chemicals began a project to switch our Corunna, Ontario site from consuming a mix of heavy and light feed to utilizing up to 100% natural gas liquid (NGL) feedstock.
In December 2013, we began to consume ethane from the Marcellus Shale basin, with completion of the project in early 2014.
NOVA Chemicals is expanding our PE1 facility to have a third gas-phase reactor and associated equipment. This world-scale reactor allows us to bring additional value to our customers – providing more linear-low density polyethylene (NOVAPOL® resins) to the marketplace to meet the growing demand for products such as: trashbags, heavy duty sack, etc.
We expect to start-up the new unit at the end of the summer in 2016.
Advanced SCLAIRTECH™ Technology Facility Update
We have decided to move forward with the second phase of our announced NOVA 2020 slate of projects in Ontario, while continuing to evaluate options for a second Advanced SCLAIRTECH™ technology (AST) facility, which could be located in Ontario, the U.S. Gulf Coast or elsewhere in the world. We will first invest in smaller, more cost-effective projects, allowing us to better manage cash flow, move beyond the construction peak and further develop our technologies, solidifying our commitment to investing and working in the Sarnia, Ontario region.
Read more in the December 18, 2013 press release.