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Business

Two Companies Eye Gulf Coast Projects

by Alexander H. Tullo
November 2, 2015 | APPEARED IN VOLUME 93, ISSUE 43

Two little-known firms are launching projects to take advantage of cheap shale-based methane. Syngas Energy Holdings intends to spend $360 million on a methanol plant in St. James, La., that would have 500,000 metric tons of annual capacity. The company is buying a 130-acre tract from NuStar Energy, which operates a nearby oil terminal. Meanwhile, Pallas Nitrogen Texas plans to open an ammonia plant on land in Pasadena, Texas, leased from Air Products & Chemicals, which would supply the company with hydrogen.

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