27-03-2017
NOVA Chemicals, Borealis and Total JV to meet global demand for polyethylene
NOVA Chemicals Corporation and Borealis AG signed a preliminary agreement to form a joint venture (JV) with Total Petrochemicals and Refining USA, Inc. that will develop and own a new light feed cracker and a new Borstar® polyethylene (PE) facility in Bayport, Texas.
Key aspects of the JV will include:
* Building a new 2.2 b lb (1000 ktpa) ethylene cracker in Port Arthur, Texas
* Building a new 1.35 b lb (625 ktpa) Borstar PE plant in Bayport, Texas
* Total’s existing Bayport PE facility, total capacity 880 m lb (400 ktpa)
The ethylene cracker and Borstar PE unit are expected to start-up in late 2020. A final investment decision is expected in late 2017, pending NOVA Chemicals’ Board and regulatory approvals and execution of definitive agreements.
The JV is expected to create significant synergies by enabling strong integration of the value chain and the first-time use of the proprietary Borstar PE process technology in the Americas. It is also expected to provide competitive export access to markets outside of North America to help meet the growing global demand for PE.
“This opportunity will complement NOVA Chemicals’ existing asset structure in Canada and broaden our PE product slate as we continue to grow our business in the Americas to deliver products that make everyday life healthier, safer and easier,” stated Todd Karran, President and CEO, NOVA Chemicals. “It also paves the way for NOVA Chemicals to collaborate further with Borealis as part of the IPIC family of companies,” continued Karran.
“Working in a JV with NOVA Chemicals and Total on a cost effective brownfield investment project, integrated with a cracker is an attractive opportunity. We can also leverage our proven technology and benefit from large scale experience gained in other projects (e.g., Borouge) and develop the project together with NOVA Chemicals,” said Borealis CEO Mark Garrett.
News Category:
-
Beyond processbook & PI vision: Exploring today’s industrial analytics tools
(Webinar) - In the Manufacturing 4.0 era, industrial organizations have more data at their fingertips than ever, offering the promise of higher production rates, more ...
04-06-2024
-
Sasol provides state of the art catalysts to INERATEC for the production of sustainable e-fuels
The catalysts will be used, among others, in the first large-scale industrial Power-to-Liquid (PtL) plant that INERATEC is currently building in Frankfurt, Germany, which ...
24-04-2024
-
Baker Hughes to supply 17 centrifugal compressors to Saudi Master Gas System project
Baker Hughes, an energy technology company, announced Tuesday that it has received an order by Worley, for and on behalf of Aramco, to supply gas technology equipment ...
23-04-2024
-
SABIC Fujian Petrochemicals select Phenol yechnology from KBR
KBR announced today it has been awarded a contract by SABIC Fujian Petrochemicals to license KBR's market-leading phenol technology in China. Under the terms of the ...
22-04-2024
-
Lummus Expands R&D capabilities to enhance innovation and water and wastewater technologies
Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced the opening of its cutting-edge research and development (R&D) ...
17-04-2024
-
Clariant launches new CATOFIN® 312 propane dehydrogenation catalyst
Clariant, a sustainability-focused specialty chemical company, today announced the launch of CATOFIN 312, its latest propane dehydrogenation catalyst. The new catalyst ...
16-04-2024
-
Yokogawa and GridBeyond conclude investment and strategic partnership agreements
Yokogawa Electric Corporation and energy IT solutions provider GridBeyond of Ireland announce that they have concluded a strategic partnership agreement. Furthermore, ...
16-04-2024
-
Heraeus Precious Metals launches Circlear
Heraeus Precious Metals, a globally leading company in the precious metals industry and one of the largest recyclers of precious metals, has introduced its new offering ...
16-04-2024
-
EMA and JERA to cooperate on LNG procurement and supply chains
The Energy Market Authority and JERA Co Inc, have signed a Memorandum of Understanding to cooperate on mutually beneficial areas in liquefied natural gas procurement ...
16-04-2024
-
Hexagon and Dragos unveil technical partnership to strengthen industrial cybersecurity
Hexagon’s Asset Lifecycle Intelligence division today announced a strategic partnership with Dragos, a global leader in cybersecurity for operational technology (OT). ...
16-04-2024