Next Wave to Build Alkylate Production Facility in Pasadena
Wednesday, November 20, 2019
Next Wave Energy Partners, LP has made a positive final investment decision (FID) to build a new alkylate production facility in Pasadena, Texas.
The facility, known as Project Traveler, will be located near the Houston Ship Channel at Next Wave’s 53-acre site in Pasadena. At the facility, Next Wave will convert some of North America’s ethylene supply to alkylate – which is a gasoline blending component that comprises up to 13 percent of the U.S.’ overall gasoline pool. Project Traveler will have nameplate capacity of 28,000 barrels per day of alkylate.
“Project Traveler was conceived to benefit from two important trends in our industry – growing demand for additional octane and abundant domestic supplies of natural gas liquids and their derivatives,” Next Wave executive chairman Patrick Diamond stated in a release. “By starting with a chemically pure feedstock and thereby avoiding the feedstock constraints typically found in refinery alkylation, our facility will produce one of the highest-quality alkylate products available in North America, which is particularly attractive for blending the cleaner-burning gasoline required by the high-performance engines of today and tomorrow.”
Energy Capital Partners and members of Next Wave’s senior management are providing equity financing for Project Traveler. Costs were not disclosed.