INEOS Takes A Major Step Forward in Southern France Completing the Acquisition of Totalenergies’ Petrochemical Assets
INEOS has now acquired Naphtachimie, Gexaro and Appryl, which were 50:50 Joint Ventures between INEOS and TotalEnergies at Lavera in Southern France.
The deal includes one of Europe’s largest steam crackers with an annual capacity of 720,000 tonnes of ethylene, an aromatics business with an annual capacity of 270,000 tonnes and a polypropylene business with an annual capacity of 300,000 tonnes.
A number of other infrastructure assets are also contained in the deal including part of TotalEnergies ethylene pipeline network in France.
Xavi Cros, CEO of INEOS Olefins & Polymers South says, “We are very pleased to confirm that today we have completed the acquisition of TotalEnergies’ petrochemicals assets at Lavera. We will now fully integrate these businesses and pipelines, which are valuable strategic assets that will further enhance the INEOS portfolio.”
INEOS has today completed the acquisition of TotalEnergies’ 50% share of Naphtachimie (720 ktpa steam cracker), Appryl (300 ktpa polypropylene business), Gexaro (270 ktpa aromatics business) and 3TC1 (naphtha storage) announced on July 5th.
These businesses have until today been joint ventures between the two companies. A number of other infrastructure assets have also been acquired including part of Total Energies ethylene pipeline network in France.
INEOS will now fully integrate the Naphthachimie, Gexaro and Appryl petrochemical businesses, assets and infrastructure into INEOS Olefins & Polymers South at Lavera in Southern France. Gexaro which is located on the Lavera refinery site will continue to be operated by Petroineos.
Xavi Cros, CEO of INEOS Olefins & Polymers South adds,
“We are pleased that we have today completed the acquisition of Total Energies petrochemical assets at Lavera. This is a major step forward for the INEOS French and South European businesses. We will now fully integrate these assets and enhance the competitiveness of our offer.”
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