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Recent News & Developments
- CP Chem & QatarEnergy FID for “USGC II” Complex
Chevron Phillips Chemical (CP Chem) and QatarEnergy have taken the Final Investment Decision (FID) on a major new integrated polymers complex (often referred to as USGC II) in the U.S. Gulf Coast. Oil & Gas Journal+2Chevron Phillips Chemical+2- This proposed complex would feature a 2.08 million t/year ethylene cracker plus two 1 million t/year HDPE units. Oil & Gas Journal
- The project is designed to achieve ~25% lower greenhouse gas emissions compared to similar U.S./European plants as part of a lower-carbon pledge. Oil & Gas Journal
- CP Chem holds 51% ownership, QatarEnergy 49%, with CP Chem responsible for project management and operations. Chevron Phillips Chemical+1
- Targeted commissioning is in 2026. Oil & Gas Journal+1
- Phillips 66 Capital Program Includes USGC Growth
In its 2025 capital budget, Phillips 66 (which is co‑owner of CP Chem) earmarked funding to support CPChem’s growth projects on the Gulf Coast, including the new USGC II complex. investor.phillips66.com- The announcement suggests continuing commitment to petrochemical expansion in Gulf region. investor.phillips66.com
- Original USGC Project – Retrospective / Commissioning News
While not “new” in 2025, some background items are still referenced in recent industry sources:- The original USGC Petrochemicals Project (cracker + PE units) successfully brought its polyethylene units online around late 2017. NS Energy Business+1
- JGC, together with Fluor, completed the EPC execution for the 1.5 Mt/Y ethylene plant at Baytown (Cedar Bayou). JGC+1
- Market & Feedstock Pressures
- Some industry commentary notes that U.S. ethylene prices are under pressure as crackers resume operation after cold-weather disruptions, which may tighten margins for steam cracking. kpler.com
- The dynamics of export markets, feedstock costs (e.g. propane/ethane pricing), and global demand influence how projects like USGC will fare in coming years.