INEOS takes over TotalEnergies' petrochemical assets in Southern France
Published by Oliver Kleinschmidt,
Editorial Assistant
Tanks and Terminals,
INEOS has completed the acquisition of TotalEnergies’ 50% share of Naphtachimie (720 000 tpy steam cracker), Appryl (300 000 tpy polypropylene business), Gexaro (270 000 tpy aromatics business) and 3TC (naphtha storage) announced on 5th July 2023.
These businesses have been joint ventures between the two companies. A number of other infrastructure assets have also been acquired including part of TotalEnergies ethylene pipeline network in France.
INEOS will 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 added: "We are pleased that we have today completed the acquisition of TotalEnergies 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."
Read the article online at: https://www.tanksterminals.com/terminals/02042024/ineos-takes-over-totalenergies-petrochemical-assets-in-southern-france/
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