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23-05-2018

Total, Borealis and NOVA Chemicals close their petrochemicals JV

Total S.A, Borealis AG and NOVA Chemicals Corporation, today announced they have closed a joint venture in petrochemicals on the U.S. Gulf Coast after receiving all required regulatory approvals.

The company named Bayport Polymers LLC is 50% owned by Total and 50% owned by Novealis Holdings LLC, a joint venture between Borealis and NOVA Chemicals. Diane Chamberlain is appointed President of the new entity. The Bay-Pol Joint venture includes:
* the under-construction 1Mt/y ethane steam cracker in Port Arthur, Texas
* Total’s existing polyethylene 400 kt/y facility in Bayport, Texas
* a new 625 kt/y Borstar® polyethylene unit at Total’s Bayport, Texas, site, subject to further approvals

“We’re excited for the future of our new company. The partnership between Total, Borealis and NOVA Chemicals will create a major player in the U.S. polyethylene market,” said Diane Chamberlain. “We have a great opportunity to take advantage of low-cost feedstocks in the United States and deliver quality products that respond to the growing global demand for plastics.

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