INEOS acquires TotalEnergies’ petrochemical assets in Southern France

INEOS has signed a deal to acquire TotalEnergies’ 50% share of Naphtachimie (720 ktpa steam cracker), Appryl (300 ktpa polypropylene business), Gexaro (270 ktpa aromatics business) and 3TC (naphtha storage), which are all currently joint ventures between the two companies at Lavera in Southern France.

This strategic deal will fully integrate the Naphthachimie, Appryl and Gexaro petrochemical businesses, assets and infrastructure into INEOS Olefins & Polymers South at Lavera. Gexaro is located on the Lavera refinery site and will continue to be operated by Petroineos.

INEOS takes a major step forward in Southern France.

“This is a major step forward for the INEOS French and South European businesses. The acquisition will allow us to fully integrate these assets and enhance the competitiveness of our offer,” says Xavi Cros, CEO of INEOS Olefins & Polymers South.

“At the same time our goal is to continue to invest in them, including CO2 reduction to meet our Net Zero 2050 commitment,” he adds.

As part of the agreement, INEOS will also acquire 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.

Completion of the deal is subject to consultation and regulatory approval and is expected around the end of 2023.