Total, Borealis and NOVA Chemicals Take
Final Investment Decision for New Unit
Regulatory News:
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Bayport Polymers, LLC (“Bayport Polymers”) – a 50/50 joint
venture owned by Total S.A. (“Total”) (Paris:FP) (LSE:TTA)
(NYSE:TOT) and Novealis Holdings LLC, itself a joint venture of
Borealis AG (“Borealis”) and NOVA Chemicals Inc. (“NOVA Chemicals”)
– announces the final investment decision to build a
625,000-ton-per-year polyethylene unit at its production site in
Bayport, Texas.
The new unit will use Borstar® technology and more than double
the site’s polyethylene capacity to 1.1 Mt/y with a start-up
scheduled in 2021. The contract for the engineering, procurement
and construction of the new unit has been awarded to McDermott and
is expected to employ 1,750 staff during peak activity.
Formed in May 2018, Bayport Polymers is currently building a
one-million-tonne per year steam cracker in Port Arthur, Texas.
This cracker will process ethane, which is abundantly available and
competitively priced in the U.S. and will supply Bayport
polyethylene units.
“The power of this partnership between Total, Borealis and NOVA
Chemicals will enable us to become one of the largest players in
the North American polyethylene market,” said Bayport Polymers
President Diane Chamberlain. “The Borstar technology, which will be
used for the first time in North America, will allow us to better
serve our customers with an increased range of high-value-added
products.”
“The project is in line with our strategy to develop
petrochemicals at our major integrated complexes and leverage
competitively priced feedstocks,” said Bernard Pinatel, President
Refining & Chemicals of Total. “It’s another step to strengthen
our position in the United States, where we have more than 5,000
employees and where we operate one of our 6 world largest
integrated platforms in Port Arthur, Texas.”
“This final investment decision is a major milestone in the
development of this exciting partnership, and a significant step in
the global market presence of our unique Borstar technology,”
explained Borealis Chief Executive Alfred Stern.
“Partnering with Total and Borealis and bringing Borstar®
technology to North America will allow us to better serve our
customers throughout the Americas by delivering a broader slate of
products that help make everyday life healthier, easier and safer,”
stated NOVA Chemicals CEO, Todd Karran.
ABOUT BAYPORT POLYMERS
Bayport Polymers is a joint venture 50% owned by Total and 50%
owned by Novealis Holdings (a joint venture between Borealis and
NOVA Chemicals). The JV is the translation of the growth ambitions
of each of the partners. It combines a 400,000-ton-per-year
polyethylene plant previously owned by Total in Bayport, Texas,
with the Borealis proprietary Borstar® technology and NOVA
Chemicals’ deep customer and technical expertise in polyethylene to
deliver a broad range of products to help meet the growing global
demand for plastic products. It also includes an ethane-based steam
cracker with a capacity of 1 million tons per year – currently
under construction in Port Arthur, Texas – and a new
625,000-ton-per-year Borstar polyethylene unit to be built in
Bayport, Texas.
ABOUT TOTAL
Total is a global integrated energy producer and provider, a
leading international oil and gas company, and a major player in
low-carbon energies. Our 98,000 employees are committed to better
energy that is safer, cleaner, more efficient, more innovative and
accessible to as many people as possible. As a responsible
corporate citizen, we focus on ensuring that our operations in more
than 130 countries worldwide consistently deliver economic, social
and environmental benefits. www.total.com
ABOUT BOREALIS
Borealis is a leading provider of innovative solutions in the
fields of polyolefins, base chemicals and fertilizers. With its
head office in Vienna, Austria, the company currently has around
6,600 employees and operates in over 120 countries. Borealis
generated EUR 7.5 billion in sales revenue and a net profit of EUR
1,095 million in 2017. Mubadala, through its holding company, owns
64% of the company, with the remaining 36% belonging to
Austria-based OMV, an integrated, international oil and gas
company. Borealis provides services and products to customers
around the world in collaboration with Borouge, a joint venture
with the Abu Dhabi National Oil Company (ADNOC).
www.borealisgroup.com
Borstar is a registered trademark of the Borealis Group.
ABOUT NOVA CHEMICALS
NOVA Chemicals develops and manufactures chemicals and plastic
resins that make everyday life safer, healthier and easier. Our
employees work to ensure health, safety, security and environmental
stewardship through our commitment to sustainability and
Responsible Care®. NOVA Chemicals, headquartered in Calgary,
Alberta, Canada, is wholly-owned, ultimately by Mubadala Investment
Company of the Emirate of Abu Dhabi, United Arab Emirates.
www.novachem.com
NOVA Chemicals' logo is a registered trademark of NOVA Brands
Ltd.; authorized use.Responsible Care® is a registered trademark of
the Chemistry Industry Association of Canada.
* * * * *
Cautionary note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL S.A. directly or indirectly owns investments are separate
legal entities. TOTAL S.A. has no liability for their acts or
omissions. In this document, the terms “Total” and “Total Group”
are sometimes used for convenience where general references are
made to TOTAL S.A. and/or its subsidiaries. Likewise, the words
“we”, “us” and “our” may also be used to refer to subsidiaries in
general or to those who work for them.
This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL S.A. nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
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Bayport Polymers, LLCGary
CambreCommunicationsGary.cambre@bay-pol.comorTotalMedia Relations:+33 1 47 44 46
99presse@total.com@TotalPressorInvestor Relations:+44 (0)207
719 7962ir@total.comorNOVA
ChemicalsMedia Relations:Jennifer NanzCorporate
Communications LeaderJennifer.Nanz@Novachem.comorInvestors
Relations:Patty MasryFinancial Reporting & Investor
Relations ManagerPatty.Masry@Novachem.comorBorealisMedia Relations:Patrick
LaureysSenior External Communications
ManagerPatrick.Laureys@Borealisgroup.com
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