- INEOS has acquired Naphtachimie, Gexaro and Appryl, which were 50:50 Joint Ventures between INEOS and TotalEnergies at Lavera in Southern France.
  - The deal includes one of Europe’s largest steam crackers with an annual capacity of 720,000 tonnes of ethylene, an aromatics business with an annual capacity of 270,000 tonnes and a polypropylene business with an annual capacity of 300,000 tonnes.
  - A number of other infrastructure assets are also contained in the deal including part of TotalEnergies ethylene pipeline network in France.
  - Xavi Cros, CEO of INEOS Olefins & Polymers South says, “We are very pleased to confirm that today we have completed the acquisition of TotalEnergies’ petrochemicals assets at Lavera. We will now fully integrate these businesses and pipelines, which are valuable strategic assets that will further enhance the INEOS portfolio.”

INEOS has completed the acquisition of TotalEnergies’ 50% share of Naphtachimie (720 ktpa steam cracker), Appryl (300 ktpa polypropylene business), Gexaro (270 ktpa aromatics business) and 3TC[1] (naphtha storage) announced on July 5th. These businesses have until today been joint ventures between the two companies. A number of other infrastructure assets have also been acquired including part of TotalEnergies ethylene pipeline network in France.

INEOS will now fully integrate the Naphthachimie, Gexaro and Appryl petrochemical businesses, assets and infrastructure into INEOS Olefins & Polymers South at Lavera in Southern France. Gexaro, which is located on the Lavera refinery site will continue to be operated by Petroineos.

Xavi Cros, CEO of INEOS Olefins & Polymers South adds, ​"We are pleased that we have today completed the acquisition of TotalEnergies petrochemical assets at Lavera. This is a major step forward for the INEOS French and South European businesses. We will now fully integrate these assets and enhance the competitiveness of our offer."

[1] 3TC is a 50/50 JV between Petroineos and TotalEnergies

About INEOS

INEOS is a global petrochemicals manufacturer, comprising 36 individual businesses. We operate 194 facilities in 29 countries throughout the world, employing 26,000 people. INEOS makes the raw materials and energy used for everyday life. Its products make an indispensable contribution to society by providing the most sustainable options for a wide range of societal needs. For example, preservation of food and clean water; construction of wind turbines, solar panels and other renewable technologies; for construction of lighter and more fuel-efficient vehicles and aircraft; for medical devices and applications; for clothing and apparel; and for insulation and other industrial and home applications. In recent years INEOS has diversified with the launch of INEOS Automotive and INEOS Hygienics, acquisition of iconic British brand Belstaff and an ever-expanding sports portfolio. A blend of opportunism, belief that it can add value in pursuit of its core values and passion for adventure.

INEOS businesses have put in place the plans and actions needed to ensure that they lead the transition to a net zero economy by no later than 2050, whilst remaining profitable. As part of its greenhouse gas emission reduction strategy.

About TotalEnergies

TotalEnergies is a broad energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, clean, reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.