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Ineos has completed the acquisition of petrochemical assets Naphtachimie, Appryl, Gexaro from TotalEnergies, which were previously 50-50 joint ventures between the two companies.
Ineos said in a news release Monday that it 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. The Lavera petrochemical complex is the largest one in south of France.
Ineos also acquired 3TC, a 50-50 joint venture between TotalEnergies and Petroineos. It stores naphtha feedstock for the Naphtachimie steam cracker.
Naphtachimie operates one of Europe’s largest steam crackers with an annual capacity of 720,000 tons of ethylene, while Gexaro is an aromatics business with an annual capacity of 270,000 tons. Appryl is a polypropylene business with an annual capacity of 300,000 tons, according to the release.
A number of other infrastructure assets have also been acquired including part of TotalEnergies ethylene pipeline network in France, Ineos said. The financial details of the deal were not disclosed.
As part of the agreement, Ineos also acquired the southern sections of TotalEnergies’ ethylene pipeline network running from Lavera to the Lyon region. The central and northern sections, from the Lyon region to the Lorraine region, will be held equally by both companies, according to an earlier news release.
Xavi Cros, CEO of Ineos Olefins & Polymers South, said, ”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”.
Solar Project in Belgium
Meanwhile, Ineos Inovyn said it expects its 60-megawatt solar farm at its Jemeppe production site in Belgium to be operational in July.
Ineos and its partners PerPetum Energy and Green4Power are installing photovoltaic panels for the Jemeppe project, which employs over 540 people. The project will reduce emissions by 14,000 metric tons of carbon dioxide annually, according to a separate news release.
PerPetum Energy is responsible for the project buildout, commissioning and maintenance on behalf of Green4Power, which finances and owns the solar farm. Under a power purchase agreement, Ineos Inovyn said it plans to acquire all green electricity produced from Jemeppe-sur-Sambre over the next 15 years.
Philippe Taranti, Ineos Inovyn Director at the Jemeppe site, said, “I am proud of the industry leadership we are showing. Ineos products play a vital role across modern life and this new solar farm gives us competitive access to local renewable energy”.
Luc Leenknegt, CEO and founder of PerPetum Energy, said, “We are proud to contribute to Ineos Inovyn’s environmental objectives. This project is totally in line with PerPetum Energy’s mission: to help industrial companies and large consumers to reduce the carbon footprint of their consumption as much as possible, by offering them an optimized mix of multi-technology solutions such as photovoltaics, wind power and energy storage”.
To contact the author, email rocky.teodoro@rigzone.com
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