- INEOS is to acquire Naphtachimie, Gexaro and Appryl, currently 50:50 Joint Ventures between INEOS and TotalEnergies at Lavera in Southern France.
- Lavera petrochemicals complex and refinery is the largest in the South of France
- Naphtachimie operates one of Europe’s largest steam crackers with an annual capacity of 720,000 tonnes of ethylene, Gexaro an aromatics business with an annual capacity of 270,000 tonnes and Appryl 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 announce this acquisition. These businesses and pipelines are valuable strategic assets and will further enhance the INEOS portfolio.”
INEOS has signed a deal to acquire TotalEnergies’ 50% share of Naphtachimie (720 ktpa steam cracker), Appryl (300 ktpa polypropylene business), Gexaro (270 ktpa aromatics business) and 3TC [1] (naphtha storage), which are all currently joint ventures between the two companies. A number of other infrastructure assets are also contained in the deal including part of TotalEnergies ethylene pipeline network in France.
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 adds, "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. The central and northern sections, from the Lyon region to the Lorraine region, 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.
ENDS.
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Notes to editors
About INEOS
INEOS is a global petrochemicals manufacturer, comprising 36 individual businesses. We operate 194 facilities in 29 countries throughout the world, employing 26,000 people. INEOS makes the raw materials and energy used for everyday life. Its products make an indispensable contribution to society by providing the most sustainable options for a wide range of societal needs. For example, preservation of food and clean water; construction of wind turbines, solar panels and other renewable technologies; for construction of lighter and more fuel-efficient vehicles and aircraft; for medical devices and applications; for clothing and apparel; and for insulation and other industrial and home applications. In recent years INEOS has diversified with the launch of INEOS Automotive and INEOS Hygienics, acquisition of iconic British brand Belstaff and an ever-expanding sports portfolio. A blend of opportunism, belief that it can add value in pursuit of its core values and passion for adventure.
INEOS businesses have put in place the plans and actions needed to ensure that they lead the transition to a net zero economy by no later than 2050, whilst remaining profitable. As part of its greenhouse gas emission reduction strategy.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in close to 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
About Naphtachimie
Naphtachimie is a 50:50 joint venture between TotalEnergies and INEOS. With state-of-the-art facilities and a dedicated research and development team, the JV has established itself as an innovative and forward-thinking player in the chemical sector. The Naphtachimie steam cracker is one of the largest in the world, converting naphtha into olefins and aromatics, cracking the molecules at high temperature (800°C), in the presence of steam. The unit produces ethylene, propylene, butadiene, butenes and pyrolysis gasoline. Its products are either shipped to external customers or used on site by Kemone , INEOS , Appryl, Oxochimie and Gexaro to be transformed into products necessary for applications found across everyday life.
About Appryl
Appryl is a 50:50 joint venture between TotalEnergies and INEOS to produce polypropylene. The business has benefited from ongoing investment enabling it to remain one of the largest and most efficient units in the world.
About Gexaro
Gexaro is a 50:50 Joint Venture between TotalEnergies and INEOS. It produces benzene and gasoline for the Petroineos refinery.
About 3TC
3TC is a 50:50 Joint Venture between TotalEnergies and Petroineos. It stores naphtha feedstock for the Naphtachimie steam cracker.
[1] 3TC is a 50/50 JV between Petroineos and TotalEnergies