Petrochemical manufacturer INEOS has struck a deal to acquire Naphtachimie, Appryl, and Gexaro, which are currently 50-50 joint ventures between the company and TotalEnergies. These planned acquisitions will integrate the petrochemical businesses, assets, and infrastructure of Naphthachimie, Gexaro, and Appryl fully into INEOS Olefins & Polymers South at Lavera in Southern France. Lavera is home to the largest petrochemicals complex in the south of France, and Gexaro, located at the Lavera refinery site, will continue to be operated by Petroineos, a subsidiary of INEOS. Naphtachimie operates one of Europe's largest steam crackers with an annual capacity of 720,000 tons of ethylene, while Gexaro is an aromatics business with an annual capacity of 270,000 tons, and Appryl is a polypropylene business with an annual capacity of 300,000 tons.

Additionally, INEOS will acquire 3TC, a 50-50 joint venture between TotalEnergies and Petroineos, which stores naphtha feedstock for the Naphtachimie steam cracker. As part of the agreement, INEOS will also acquire the southern sections of TotalEnergies' ethylene pipeline network running from Lavera to the Lyon region, while the central and northern sections will be jointly held by both companies.

The completion of the deal is subject to consultation and regulatory approval, expected around the end of 2023. The financial terms of the agreement have not been disclosed.

INEOS is also making strides in the liquefied natural gas (LNG) carrier market. The company has signed agreements with Mitsui O.S.K. Lines (MOL) for the construction of two new LNG carriers to be used for importing LNG from the USA into Germany. These vessels, with a capacity of 6.1 million cubic feet (174,000 cubic meters), will be equipped with the latest MAN Energy Solutions engines. This marks INEOS' first venture into the LNG carrier market and complements its existing fleet of 12 dedicated ethane carriers.

With the acquisition of LNG from the Port Arthur LNG facility in Texas and a contract for long-term regasification capacity in the proposed German LNG Terminal in Brunsbuettel, INEOS is expanding its LNG portfolio. The company plans to capitalize on its experience as the largest transporter of ethane gas from the USA to Europe and Asia and develop a "pipeline" of LNG into Europe to meet its own demand and that of select third parties. The agreements with MOL prioritize environmental considerations, aiming to reduce carbon emissions and methane slip, aligning with both companies' efforts towards a net-zero future.

INEOS continues its strategic moves in the energy industry, including its entry into the USA oil and gas production with the acquisition of a portion of Chesapeake Energy's assets in the Eagle Ford shale. These moves position INEOS for growth in a global integrated portfolio suitable for the energy transition and to provide high-quality energy solutions to its customers.