TPC Group approves strategic project for restart of dehydrogenation asset

TPC Group Inc today announced the Board of Directors has approved its strategic project to produce on-purpose isobutylene. The project includes refurbishment and restart of certain of its dehydrogenation assets at the Company's Houston Operations. These dehydrogenation assets will serve to provide isobutylene feedstock for the Company's performance products and fuels business, including MTBE, polyisobutylene, high purity isobutylene and diisobutylene.

The construction is scheduled to be complete allowing start-up late in the second half of 2014, and will produce up to 650 million pounds per year of isobutylene from isobutane, a natural gas liquids feedstock whose production volumes continue to increase as a result of U.S. shale gas development. Total capital expenditure for the project is estimated at $265 million, with $25 million of that amount already spent to date.

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