Borealis and Statoil Renew their Ethane Sourcing Contract
Borealis AG, Vienna, Austria, announces a new long term agreement to source ethane from Norwegian Statoil for its flexible steam cracker in Stenungsund, Sweden. This contract will continue to provide Borealis with an attractive source of feedstock for its petrochemical complex in Stenungsund.
Borealis and Statoil have renewed the contract for the supply of ethane from Statoil’s gas plant at Kårstø, Norway, which will secure a significant volume of ethane to Borealis’ cracker in Stenungsund for the coming years. The ethane supply has been agreed at competitive terms for both parties, taking into account the global change of the ethane market due to the availability of US shale gas. The new contract will start in October 2015 and last for a period of 7 years.
Borealis’ cracker in Stenungsund is one of the most feedstock flexible crackers in Europe. Apart from ethane it can also crack naphtha, propane and butane. Stenungsund has significant liquefied petroleum gas (LPG) storage capacity, allowing the company to source LPG from various sources with vessel sizes up to very large gas carriers.
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