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05-28-2018

Joint Venture in Petrochemicals

Total, Borealis and Nova Chemicals Close Their Transaction

Bayport Polymers LLC is 50% owned by TPRI and 50% owned by Novealis Holdings LLC, a joint venture between Borealis and NOVA Chemicals (© stock.adobe.com/cobalt)

Bayport Polymers LLC is 50% owned by TPRI and 50% owned by Novealis Holdings LLC, a joint venture between Borealis and NOVA Chemicals (© stock.adobe.com/cobalt)

Total Petrochemicals & Refining USA Inc. (TPRI), Houston, TX/USA, Borealis AG, Vienna, Austria, and Nova Chemicals Inc., Calgary, Alberta, Canada, have closed a joint venture in petrochemicals on the U.S. Gulf Coast after receiving all required regulatory approvals.

The company named Bayport Polymers LLC (Bay-Pol) is 50% owned by TPRI and 50% owned by Novealis Holdings LLC, a joint venture between Borealis and NOVA Chemicals. Diane Chamberlain is appointed President of the new entity.

The Bay-Pol joint venture includes the under-construction 1Mt/y ethane steam cracker in Port Arthur, Texas, Total’s existing polyethylene 400 kt/y facility in Bayport, Texas, a new 625 kt/y Borstar polyethylene unit at Total’s Bayport, Texas, site, subject to FID.

“The partnership between TPRI, Borealis and Nova Chemicals will create a major player in the U.S. polyethylene market,” said Diane Chamberlain. “We have a great opportunity to take advantage of low-cost feedstocks in the United States and deliver quality products that respond to the growing global demand for plastics.”

Additional information
Company profile

Borealis AG

IZD Tower
AT 1220 WIEN
Tel.: +43 1 22400-302
Fax: +43 1 22400-333

NOVA Chemicals Corporation

1000 Seventh Avenue, S.W.
CALGARY, ALBERTA T2P 5C6
Tel.: +1 403 750-3600

Total Petrochemicals & Refining USA, Inc.

Total Plaza, Louisiana Street 1201
US 77002 HOUSTON, TEXAS

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