UK-based chemical petrochemical company Ineos has completed the purchase of TotalEnergies 50pc stake in the former joint venture at the Lavera chemical site in southern France with the deal including storage and pipeline assets.
Ineos and TotalEnergies originally announced the deal in July 2023. Ineos now completely controls the assets at the complex including Naphthtachimie, which operates a 720,000 t/yr ethylene steam cracker at Lavera that can produce 300,000 t/yr of propylene and 120,000t/yr of butadiene. The acquisition also included the 300,000 t/yr Appryl polypropylene business and the Gexaro aromatics operation with a capacity of 270,000 t/yr, the Gexaro site will continue to be operated by Petroineos. Naphtha storage business 3TC was also included in the deal. Ineos plans to fully integrate the connected assets.
Ineos already operated and owned ethylene oxide, polyethylene and oxo-alcohol production at the Lavera site. The company also operates the 207,100 b/d Lavera refinery through its Petroineos 50:50 joint venture with state controlled PetroChina.
The deal includes Ineos taking control of southern sections of TotalEnergies' ethylene pipeline network from Lavera to the Lyon region. TotalEnergies previously stated that it did not use its share of ethylene production from the Lavera steam cracker and mainly sold it to Ineos.
Ineos operates a PVC plant in the Lyon region under the Inovyn business. TotalEnergies operates the Feyzin cracker in the same area. The deal will allow closer integration between the Feyzin and Carling sites for TotalEnergies, the company said. The northern and central sections of the ethylene pipeline will continue to be jointly owned and remain operated by TotalEnergies.
