INEOS to acquire TotalEnergies’ petrochemical assets at Lavera

Naphtachimie operates one of Europe’s largest steam crackers with a capacity of 720 000 tpy of ethylene, Gexaro is an aromatics business with a capacity of 270 000 tpy and Appryl is a polypropylene business with a capacity of 300 000 tpy.

This strategic deal will fully integrate the Naphthachimie, Gexaro and Appryl petrochemical businesses, assets and infrastructure into INEOS Olefins & Polymers South at Lavera in southern France. Gexaro is located on the Lavera refinery site and will continue to be operated by Petroineos.

Xavi Cros, CEO of INEOS Olefins & Polymers South, said: "This is a major step forward for the INEOS French and South European businesses. The acquisition will allow us to fully integrate these assets and enhance the competitiveness of our offer. At the same time our goal is to continue to invest in them, including CO₂ reduction to meet our net zero 2050 commitment."

As part of the agreement, INEOS will also acquire the southern sections of TotalEnergies’ ethylene pipeline network running from Lavéra to the Lyon region, France. The central and northern sections, from the Lyon region to the Lorraine region, France, will be held equally by both companies. Completion of the deal is subject to consultation and regulatory approval and is expected around the end of 2023.

Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/05072023/ineos-to-acquire-totalenergies-petrochemical-assets-at-lavera/