MOSCOW (MRC) -- Ineos has opend one million tonne deep-sea ethylene terminal at Ineos Oxide, Zwijndrecht, Belgium, according to the company's statement.
The new deep-sea terminal, at the heart of the second largest petrochemical region in the world, is now fully operational.
Hans Casier, CEO Ineos Oxide says: "This is a major step for INEOS which will secure the long term viability of its business located at the Antwerp site and connected along side the ARG pipeline. The terminal allows us to access ethylene from world markets at competitive costs, which means we can continue to compete successfully on a global basis."
Capable of unloading shipments of ethylene from the world’s largest ethylene vessels, the terminal directly supplies the needs of both those INEOS ethylene derivative plants located directly at the Antwerp site and those which are connected along the ARG ethylene pipeline, which links Antwerp to Koln and the Ruhr industrial areas.
Ineos has a very large demand for ethylene, supplied substantially by its own production from several steam crackers across Europe. To balance the shortfall the company has traditionally bought ethylene from other companies that sit on the ARG pipeline. The new one million tonne deep sea terminal now presents an opportunity for INEOS to import competitively priced ethylene from around the world, thereby improving its flexibility.
Ineos Oxide, part of the INEOS Group of Companies, is a leading producer of ethylene oxide and ethylene oxide derivatives, propylene oxide and propylene oxide derivatives, plus a range of solvents and speciality chemicals, with production facilities in Antwerp Belgium, Koln Germany, Lavera France, Plaquemine Louisiana, Freeport Texas and Hull in the United Kingdom.
As MRC wrote previously, las year chemicals major Ineos signed an agreement to secure ethane from the US that it will use as a feedstock to operate its steam crackers in Europe. It agreed a long-term deal with Range Resources Corp. for the lifting of ethane from the Marcus Hook facility, located near Philadelphia, from 2015.
INEOS Group Limited is a privately owned multinational chemicals company consisting of 15 standalone business units, headquartered in Rolle, Switzerland and with its registered office in Lyndhurst, United Kingdom. It is the fourth largest chemicals company in the world measured by revenues (after BASF, Dow Chemical and LyondellBasell) and the largest privately owned company in the United Kingdom. Ineos operates steam crackers in Grangemouth in the UK, Cologne in Germany, Lavera in France and Rafnes in Norway.