PARIS-VIENNE, FRANCE/ CALGARY, CANADA: Total SA (Total), Borealis AG (Borealis) and Nova Chemicals Corporation (NOVA Chemicals) have signed definitive agreements to form a joint venture (JV) in petrochemicals on the US Gulf Coast.
The joint venture – in which Total will own 50 percent and Novealis Holdings LLC, a joint venture between Borealis and NOVA Chemicals, will own the remaining 50 percent.
The joint venture will include:
The under-construction 1 metric tonne per year (2.2 b lb) ethane steam cracker in Port Arthur, Texas
Total’s existing polyethylene 400 kiloton per year (880 m lb) facility in Bayport, Texas
A new 625 kt/y (1.35 b lb) Borstar polyethylene unit at Total’s Bayport, Texas site, following a decision on the outcome of an acceptable engineering, procurement and construction (EPC) contract.
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