Ineos to buy TotalEnergies’ assets in French petrochemical site

London – Ineos has signed a deal to buyout TotalEnergies' stake in a number of 50:50 joint ventures at the Lavera petrochemical complex in southern France.

The assets include Naphtachimie with 720 kilotonnes per annum (ktpa) of ethylene production and Gexaro, an aromatics business with 270ktpa capacity.

Claimed to be the largest such facility in southern France, the Naphtachimie steam cracker produces ethylene, propylene and butadiene, among other products.

The deal also includes Appryl, a 300ktpa polypropylene business as well as parts of TotalEnergies ethylene pipeline network in France, said Ineos 5 July.

Under the agreement, Ineos will acquire the southern sections of TotalEnergies’ ethylene pipeline network running from Lavera to the Lyon region.

The central and northern sections will be held equally by both companies.

"This is a major step forward for the Ineos French and South European businesses,” said Xavi Cros, CEO of Ineos Olefins & Polymers South.

The acquisition, said Cros, will allow the company to “fully integrate these assets and enhance the competitiveness of our offer.”

The deal is expected to be completed by the end of this year, subject to consultation and regulatory approval.