REG-TOTAL Total: South Korea: Daesan Complex to Develop its Polymer Capacity for Durable Applications

TotalEnergies SEAnnouncement

05/05/2021 07:50

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Total: South Korea: Daesan Complex to Develop its Polymer Capacity for Durable
Applications

 

Total (Paris:FP) (LSE:TTA) (NYSE:TOT):

The Hanwha Total Petrochemical (HTC) joint venture(1) is commissioning a new
polypropylene line at the Daesan integrated refining and petrochemical complex
in South Korea, adding a further 60% to its production capacity, which now
totals 1.1 million tons a year. At the same time, the start‑up of a fourth
propane furnace will increase ethylene production capacity by 10% to 1.5
million tons a year.

These projects were carried out safely and successfully, and were completed on
time and on budget. They mark the culmination of investments totaling $1.3
billion, announced in 2017 and 2018, to expand production capacity at the
Daesan complex. They also take advantage of abundant, cost-advantaged propane
feedstock from the United States.

The new polypropylene line, with a capacity of 400,000 tons a year, will
enable Daesan to supply both the Korean market and export markets,
particularly China. It will enable the manufacturing of high-value-added,
durable goods for specialty applications such as underfloor heating pipes and
automotive parts, helping reduce the weight of vehicles.

HTC has also launched a new polypropylene compound line(2) at its Dongguan
site in southern China, which will enable the joint venture to develop
specific grades containing recycled polymers, in partnership with its
customers, as HTC's contribution to Total's ambition of producing 30% recycled
polymers by 2030.

“The successful completion of these projects in South Korea is an excellent
illustration of our strategy of meeting growing global demand for polymers,
especially for durable applications, by focusing investments on our
world-class complexes. In the case of Daesan, we also leverage competitively
priced feedstock and monomer-polymer integration,” said Bernard Pinatel,
President of Refining & Chemicals at Total.

About the Daesan Refining and Petrochemical Complex

Daesan is one of Total's six world-class integrated complexes and a strategic
asset for both shareholders. It comprises a flexible condensate splitter, a
competitive steam cracker and units producing polymers, styrene and aromatics.

About Hanwha

Hanwha Group, founded in 1952, is a global leader in a broad range of
businesses spanning the spectrum of the manufacturing, construction, finance,
services and leisure industries. Hanwha Group consists of 80 domestic
affiliates and 469 global networks, as of December 31, 2020.

About Total

Total is a broad energy company that produces and markets fuels, natural gas
and electricity. Our 100,000 employees are committed to better energy that is
more affordable, more reliable, cleaner and accessible to as many people as
possible. Active in more than 130 countries, our ambition is to become the
responsible energy major.

Cautionary note

This press release, from which no legal consequences may be drawn, is for
information purposes only. The entities in which Total SE directly or
indirectly owns interests are separate legal entities. Total SE shall not be
held liable for their acts or omissions. The terms “Total,” “Total
Group” and “Group” may be used in this document for convenience.
Similarly, the words “we”, “us” and “our” may also be used to
refer to affiliates or to their employees. This document may contain
forward-looking information and statements that are based on business and
financial data and assumptions made in a given business, financial,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither Total SE nor any
of its subsidiaries or affiliates assumes any obligation to investors or other
stakeholders to update in part or in full any forward-looking information or
statement, objective or trend contained in this document, whether as a result
of new information, future events or otherwise.


(1) A 50-50 joint venture between Total and Hanwha.

(2) Polypropylene compounds are used in the automotive industry (interiors,
bumpers and technical parts), in the electrical and electronics industry and
in household appliances.

Total

Media Relations: +33 (0)1 47 44 46 99 l presse@total.com
(mailto:presse@total.com) l @TotalPress

Investor Relations: +44 (0)207 719 7962 l ir@total.com (mailto:ir@total.com)



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