INEOS, a leading global chemical company, has announced its plans to acquire several key businesses and infrastructure assets in a strategic deal with TotalEnergies. The acquisition will involve INEOS taking over TotalEnergies’ 50% share of Naphtachimie, Appryl, Gexaro, and 3TC, which are currently joint ventures between the two companies.
These businesses, located at the Lavera petrochemicals complex and refinery in Southern France, are significant players in the region, with Lavera being the largest complex of its kind in the South of France.
Naphtachimie operates an impressive steam cracker with an annual capacity of 720,000 tonnes of ethylene. Gexaro specializes in aromatics and has an annual capacity of 270,000 tonnes, while Appryl focuses on polypropylene with an annual capacity of 300,000 tonnes. Additionally, the deal includes the acquisition of part of TotalEnergies’ ethylene pipeline network in France, adding further value to the transaction.
Xavi Cros, the CEO of INEOS Olefins & Polymers South, expressed his satisfaction with the acquisition, stating, “We are very pleased to announce this acquisition. These businesses and pipelines are valuable strategic assets and will further enhance the INEOS portfolio.” By fully integrating Naphtachimie, Gexaro, and Appryl, along with the associated infrastructure, into INEOS Olefins & Polymers South at Lavera, INEOS aims to strengthen its position in the French and South European markets.
Notably, Gexaro will continue to operate on the Lavera refinery site under the management of Petroineos. Xavi Cros emphasized the significance of the deal, saying, “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. At the same time, our goal is to continue to invest in them, including CO2 reduction to meet our Net Zero 2050 commitment.”
In addition to the businesses, the agreement also includes the southern sections of TotalEnergies’ ethylene pipeline network, stretching from Lavera to the Lyon region. The central and northern sections, running from the Lyon region to the Lorraine region, will be jointly held by INEOS and TotalEnergies. The completion of the deal is subject to consultation and regulatory approval, is expected to be finalized by the end of 2023.