Total, Borealis and NOVA Chemicals close petrochemicals JV
Published by Anna Nicklin,
Assistant Editor
Hydrocarbon Engineering,
Total S.A, Borealis AG and NOVA Chemicals Corp. have closed a joint venture (JV) in petrochemicals on the US Gulf Coast after receiving all required regulatory approvals.
The company, named Bayport Polymers LLC (Bay-Pol), is 50% owned by Total and 50% owned by Novealis Holdings LLC, a JV between Borealis and NOVA Chemicals. Diane Chamberlain is appointed President of the new entity. The Bay-Pol JV includes:
- The under-construction 1 million tpy ethane steam cracker in Port Arthur, Texas, US.
- Total's existing polyethylene 400 000 tpy facility in Bayport, Texas a new 625 000 tpy Borstar® polyethylene unit at Total's Bayport, Texas, site, subject to further approvals.
"We're excited for the future of our new company. The partnership between Total, Borealis and NOVA Chemicals will create a major player in the US polyethylene market," said Chamberlain. "We have a great opportunity to take advantage of low-cost feedstocks in the US and deliver quality products that respond to the growing global demand for plastics."
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/24052018/total-borealis-and-nova-chemicals-close-petrochemicals-jv/
You might also like
Hydrocarbon Engineering Podcast
Mike Logue, Owens Corning Global Business Director – Mechanical Insulation, delves into factors that can support the performance, safety and longevity of insulating systems installed in hydrocarbon processing environments, including cryogenic facilities.
SAF production soars high in the US with new capacity
US sustainable aviation fuel production has taken off as new capacity comes online, according to a recent report from the US Energy Information Administration.
