Shell Finds Pa. Site For Ethane Cracker

ENR:

Shell Oil Co. has selected a site near Monaca where it could build a multibillion-dollar chemical plant, the Houston-based company said today. A Shell subsidiary, Shell Chemical LP, signed a land-option agreement with Horsehead Corp. to evaluate the 300-acre site in Potter and Center townships, Beaver County, the company said.
The announcement concludes a months-long, three-state competition for private investment officials believe will create thousands of jobs and attract other major businesses.
"We are very pleased to have signed this site option agreement," said Dan Carlson, general manager of new business development for Shell Chemicals. "This is an important step for the project, and we look forward to working with the communities in Pennsylvania, and gas producers across Appalachia, as we continue our efforts to develop a petrochemical complex."
Shell said it continues to assess the feasibility of building a chemical plant, which would take ethane from natural gas and turn it into the raw materials used to make plastics. The company's CEO said recently that Shell could be years away from making a final decision on whether or not to build the plant.
While neither Shell nor Horsehead officials would discuss the contents of the option agreement, Shell did say that Horsehead would have to vacate the property by April 30, 2014 if Shell chooses to buy the property.

If the project goes forward, maybe the gas boom has legs.  I'm still somewhat skeptical.  Anyway, I wonder how many tax breaks go into this project.