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
The Hydrocarbon Engineering Podcast - Overcoming downstream challenges with new technology
In this episode of the Hydrocarbon Engineering Podcast, Omar Sayeed, Centre of Excellence Leader for Reliability, and Rahul Negi, Director of AI and Industrial Autonomous, Honeywell Process Solutions, consider how new, innovative technology can help to overcome some of the challenges facing the downstream oil and gas sector.
Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.
