Shale Gas Fuels U.S. Manufacturing Renaissance

  Shale Gas Fuels U.S. Manufacturing Renaissance

  *Abundant supplies help energy-intensive industries grow, create more jobs

Business Wire

PITTSBURGH -- January 10, 2013

Abundant, affordable domestic natural gas is helping to revitalize
energy-intensive industries like petrochemical manufacturing, a senior
ExxonMobil Chemical Company executive said today.

Bruce Macklin, senior vice president, ExxonMobil Chemical Company, said the
innovative application o ...

Bruce Macklin, senior vice president, ExxonMobil Chemical Company, said the
innovative application of technology to produce natural gas is enabling U.S.
chemical manufacturers to competitively serve the growth markets of Asia and
other parts of the world. (Photo: Business Wire)

In a presentation at the Manufacturing Renaissance Forum, Bruce Macklin,
senior vice president, ExxonMobil Chemical Company, said, “Looking back 20
years, chemicals were our nation’s top export product. But as recently as five
years ago, we were on the verge of becoming an importer. Now the industry is
back on the path of competitively serving the growth markets of Asia and other
parts of the world. This is a great story, but it’s just the beginning.”

He said, “ExxonMobil’s Energy Outlook indicates that the chemicals subsector
of industrial energy demand will be the fastest-growing over the next 25
years, largely due to increased demand for plastics and other advanced
products. Petrochemical processes turn affordable natural gas-based feedstock
into lots of products that are used by people all around the world.”

During his presentation at the event convened by Carnegie Mellon University
and the American Fuel & Petrochemical Manufacturers, Macklin said, “Given the
feedstock advantage and the demand for our products, for the first time in a
decade, producers in North America are talking about expansion in the form of
debottlenecks and new grassroots stream crackers.”

ExxonMobil Chemical has filed permit applications for a petrochemical
expansion at its Baytown Olefins Plant in Texas where it plans to add an
ethane cracker. The company also plans to add premium polyethylene facilities
at the nearby Mont Belvieu Plastics Plant. It will make a final investment
decision following completion of these reviews and approvals.

If developed, it is estimated that the project would create about 10,000
construction jobs and add about 350 permanent jobs to the company’s workforce
of 6,500 in the Baytown area. The proposed project would also have a
multiplier effect and create an additional 3,800 jobs in local communities.

“The proposed investment reflects ExxonMobil’s confidence in the natural-gas
driven revitalization of the U.S. chemical industry,” Macklin said. “The
innovative application of technology to produce natural gas is enabling U.S.
chemical manufacturers to once again invest in North America, create thousands
of jobs and increase sales to domestic and global markets.”

About ExxonMobil Chemical

ExxonMobil Chemical is one of the world’s premier petrochemical companies with
manufacturing, technology, and marketing operations around the world. The
company delivers a broad portfolio of products and solutions efficiently and
responsibly, with a commitment to create outstanding customer and shareholder
value. ExxonMobil Chemical endorses the principles of sustainable development,
including the need to balance economic growth, social development and
environmental considerations.

To learn more, visit www.exxonmobilchemical.com.

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Contact:

ExxonMobil Chemical
Margaret Ross, 281-870-6607
 
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