TOTAL Total: United States: Bayport Polymers to Double Polyethylene Capacity

TotalEnergies SE

25/09/2018 15:40

Total: United States: Bayport Polymers to Double Polyethylene Capacity

      Total, Borealis and NOVA Chemicals Take Final Investment Decision for
      New Unit

      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.

      * * * * *

      For further information please contact:

      Bayport Polymers, LLC
Gary
      Cambre, Communications, Bayport Polymers, LLC
Gary.cambre@bay-pol.com

      Total
Media Relations:
      +33 1 47 44 46 99 l presse@total.com
      l @TotalPress

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

      NOVA Chemicals
Media
      Relations: Jennifer Nanz, Corporate Communications Leader
Jennifer.Nanz@Novachem.com

      Investors Relations: Patty Masry, Financial Reporting & Investor
      Relations Manager
Patty.Masry@Novachem.com

      Borealis
Media Relations: Patrick
      Laureys, Senior External Communications Manager
Patrick.Laureys@Borealisgroup.com

      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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