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GROWTH IN HOUSTON: Energy construction boom along the Gulf Coast

 

Sundance Cove is in a position to capture demand for communities in northeast Houston as the region continues to grow, both in terms of employment and population/households.

Houston Business Journal recently reported:

For Houston’s economy, the projects near the coast won’t completely undo the damage that low oil prices have done, but they help, said Witte.

What might further help energy businesses charting their post-oil-slump course is the impending widening of the Panama Canal, which is expected to be comleted in May. Houston is currently ranked No. 10 in total exports and imports, falling behind Dallas-Fort Worth at No. 9 and Cleveland, Ohio, at No. 8. The opening of the canal combined with the completion of much of the chemical plant construction in 2017 and 2018, should bump Houston up, said Patrick Jankowski, regional economist and vice president of research at the Greater Houston Partnership.

“Right now, there’s an estimated between $50 billion and $60 billion of plant refinery construction taking place, and that’s being built to take advantage of the cheap natural gas to produce chemicals and plastics and fertilizers and other items like that,” Jankowski said. “Once those chemical plants are finished being built in 2017/2018, then they’re going to start exporting their goods. Once they start exporting their goods, they’ll be exporting them to Asian markets, and we’ll start to see Houston rise in the rankings in 2017 or 2018.”

Pending or Completed Projects

1. Air Liquide’s Bayport Industrial Complex

2. C3 Petrochemical - Propane Dehydrogenation Plant

3. Celanese Corp. (NYSE:CE) and Mitsui & Co. Ltd. (Nasdaq: MITSY) - Methanol Production Unit

4. Cheniere Energy Inc. (NYSE: LNG) - LNG export terminal

5. Chevron Phillips Chemical Co. LP - Gulf Coast Petrochemicals Project

6. Dow Chemical Co. (NYSE: DOW) - Gulf Coast Expansion Project

7. Enterprise Products Partners LP - Refrigerated ethane export plant

8. Enterprise Products Partners LP new propane dehydrogenation plant

9. Exxon Mobil facility expansion

10. Formosa Plastics Corp.’s expansion of petrochemical complex

11. Freeport LNG’s liquefaction project

12. Ineos and Sasol joint venture- high-density polyethylene manufacturing plant

13. LyondellBasell’s (NYSE: LYB) multiplant ethylene expansion

14. LyondellBasell’s (NYSE: LYB) new propylene oxide and tertiary butyl alcohol plant

15. Magellan Processing LP (subsidiary of Magellan Midstream Partners (NYSE: MMP) - expansion of existing bulk petroleum storage terminal

17. Sasol - Petrochemical Complex

16. Noltex LLC - Expansion of existing Ethylene Vinyl Alcohol Copolymer manufacturing plant

19. OCI Partners LP - Revamp of methanol and ammonia plant

18. Phillips 66 (NYSE: PSX) - liquefied petroleum gas export terminal & natural gas liquids fractionator facility

20. OxyChem and Mexichem - Expand ethylene production at existing OxyChem plant