NOVA inks MOU for a long-term supply of ethane from the Marcellus Shale Basin

11-May-11

NOVA Chemicals Corporation has signed a memorandum of understanding (MoU) with a wholly-owned subsidiary of Range Resources Corporation for a long-term supply of ethane from the Marcellus Shale Basin to its Corunna cracker. In addition to finalizing a definitive purchase and sale agreement with Range Resources, and customary reviews and approvals, the arrangement is subject to NOVA Chemicals finalizing a pipeline transportation agreement to transport ethane from the Marcellus Shale Basin into the Sarnia, Ontario petrochemical market.