INEOS and TotalEnergies Further Integrate their Petrochemical Assets in Eastern France
07.05.2023 By TankTerminals.com News - NEWS

July 5, 2023 [Yahoo!]- TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and INEOS have signed agreements to realign their respective stakes in their production assets and logistics infrastructure to better reflect the balance between their production and internal use of ethylene in eastern France.

 

For TotalEnergies, this exchange of interests supports the integration between its petrochemical sites at Feyzin, near Lyon, and Carling in eastern France, while INEOS strengthens its operations at the Lavéra site on the Mediterranean coast.

Realigning the two companies’ interests to improve integration

The companies’ sites that produce and use ethylene in eastern France are connected by a pipelines and storage network that begins at Lavéra in south-eastern France and passes through Feyzin to Carling in the north-east.

However, TotalEnergies does not itself use its share of production from the Lavéra steam cracker, which is equally (50/50) owned with INEOS, and sells it mainly to INEOS.

In order to realign the companies’ production and internal use of ethylene, TotalEnergies will therefore sell its stake in the Lavéra assets to INEOS, in addition to part of its interests in the Eastern France ethylene pipeline and storage network, which TotalEnergies will continue to operate.

TotalEnergies reaffirms the key role of the Feyzin petrochemical platform

Within TotalEnergies, the Company is thus consolidating the key role of the Feyzin petrochemical platform as the integrated supplier of ethylene to the Carling platform.

The agreement will have no operational impact on TotalEnergies’ refining and petrochemical sites.

“This operation allows us to strengthen the links between our Feyzin and Carling petrochemical sites, with Feyzin becoming Carling’s integrated ethylene supplier, in line with our strategy to focus on our integrated platforms,” said Jean-Marc Durand, Senior Vice President, TotalEnergies Refining Base Chemicals Europe.

The implementation of this project is subject to the prior consultation process of employee representatives and the approval from the relevant authorities.

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

UAE Invests Billions in AI to Diversify Economy Beyond Oil
11.13.2024 - NEWS
November 13, 2024 [Oil Price]- The United Arab Emirates’ state-owned energy giant Abu Dhabi Nat... Read More
Gulf Energy Transition: Assessing Saudi and Emirati Goals
11.13.2024 - NEWS
November 13, 2024 [The Washington Institute]- On October 29, during Saudi Arabia’s annual Futur... Read More
How will The Energy Sector Fare Under Donald Trump?
11.13.2024 - NEWS
November 13, 2024 [Investing Daily]- The energy sector experienced a notable boost following Dona... Read More
PNOC, Pertamina Partner on LNG Infrastructure, Supply Chain
11.13.2024 - NEWS
November 13, 2024 [Manila Bulletin]- State-run Philippine National Oil Company (PNOC) has signed ... Read More