Solvay completes the divestment of its Solvay Indupa stake to Unipar

MOSCOW (MRC) -- Solvay has completed the sale of its 70.59% stake in Solvay Indupa to Brazilian chemical group Unipar Carbocloro, following the approval earlier this month of the Brazilian antitrust authority CADE, reported Reuters.

"The sale of Solvay Indupa, producers of PVC and caustic soda in Brazil and Argentina, marks another important step in Solvay's transformation," said Vincent De Cuyper, member of Solvay's Executive Committee.

As MRC informed before, in early July 2016, Solvay completed the divestment of its shareholding in Inovyn (London), bringing to an end Solvay's chlorvinyls joint venture with Ineos. Solvay received exit cash proceeds amounting to EUR335 million (USD370.7 million). The dissolution of the jv follows regulatory clearances from the relevant authorities.

Inovyn was formed on 1 July 2015 as a jv between Ineos and SolVin, a subsidiary of Solvay. Solvay and Ineos signaled their decision to end their chlorvinyls jv in March this year.

Solvay, with a market share 27%, is the second largest PVC manufacturer in Europe, after Kerling with 29% of the market. Solvay is headquartered in Brussels with about 30,900 employees spread across 53 countries. It generated pro forma net sales of EUR12.4 bn in 2015, with 90% made from activities where it ranks among the world’s top 3 players.
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Veresen midstream announces USD195 Million in new capital projects


MOSCOW (MRC) -- Veresen Inc. announced that it has sanctioned USD195 million in new capital projects at its Veresen Midstream subsidiary, said Energeticcity.

The South Central Liquids Hub project has been sanctioned to allow the company’s existing gathering system in the area to handle development anticipated over the next several years. The project is expected to be in service by the end of the second quarter of 2017.

The Tower Liquids Hub has also been sanctioned to provide a lower overall cost and more commercially flexible solution for the handling and storage of natural gas liquids that are produced at the Sunrise, Tower and Saturn Phase II processing facilities. The Tower Liquids Hub is expected to be in service in the third quarter of 2017.

"With the sanction of this additional capital, Veresen now has over USD1.4 billion of projects under construction," said Don Althoff, President and CEO of Veresen. "We expect these capital projects to deliver incremental per share growth as Veresen remains fully funded without the need to access capital markets. As Veresen Midstream’s capital projects come into service, the significant increase in cash flow will reduce Veresen’s leverage and bolster our financial flexibility to fund new growth opportunities generated from our strong footprint in the heart of the Montney play."

Both the South Central Liquids Hub and the Tower Liquids Hub are governed by the Dawson Midstream Service Agreement, which is in place for the next 28 years.


MRC

Muntajat and Total sign marketing agency agreement

MOSCOW (MRC) -- Muntajat (Qatar Chemical and Petrochemical Marketing and Distribution Company Q.J.S.C.) has signed its first international agency marketing agreement with Total, as per ZAWYA.

Total produces a range of polymers including polyethylene (PE), polypropylene (PP), and polystyrene (PS). With Polymers business unit offices based in Brussels, Belgium, Total also operates a research center in Feluy, Belgium, to pool catalyst expertise and develop new products.

The agreement was signed by Muntajat’s Chief Executive Officer, Abdulrahman Ali Al-Abdulla and Total’s Senior Vice President of the Polymers business unit, Xavier Bontemps. Starting from the 1st of January 2017, Muntajat will market a range of specialty polymers in the Middle East. These products include 9 different grades of Metallocene PE and 12 grades of PS.

Speaking on the significance of this new agreement, Muntajat’s CEO, Al Abdulla said: "This agreement represents a key achievement for Muntajat and acts as a stepping stone for our future growth strategy. By introducing new products to our portfolio we are able to enrich our offerings and give our customers in the region the added value that they need. With this new collaboration with Total, we are able to strengthen our position in the global industry and move closer to our vision of becoming the world leader in the marketing and distribution of downstream products."

Under the new agreement, Muntajat will act as the marketing agent for PE and PS in Saudi Arabia, Oman, Bahrain, Kuwait, United Arabic Emirates, Qatar and Jordan. Muntajat will also be the agent for PE in Egypt. The company plans to market its products through its network of international offices spread in the region.

Commenting on the agreement, Total’s Senior Vice President of the Polymers business unit Xavier Bontemps said: "Total is very selective when choosing an agent as we are always seeking partners who mirror our commitment to excellence in service and best practices. We believe that Muntajat is the partner of choice for us and I am certain that they will help us increase our polymer reach in the region."

This new agreement comes in alignment with Muntajat’s expansion and growth strategy as the company marks 4 years since its establishment. Founded in 2012, Muntajat has created a track record of achievements. From seamlessly transitioning the marketing activities of 12 producing companies to establishing a global marketing network and a network of storage facilities that services customers in more than 120 countries, Muntajat is committed to become a leader in the industry. The company is now focused on enriching its portfolio and expanding its reach to tap into new markets.

As MRC informed previously, in March 2016, The National Petrochemical Company (NPC) of Iran and France-based Total signed an memorandum of understanding (MoU) to build a petrochemical complex in Iran. The complex will include a world-scale steam cracker unit in the coastal area. It will be based on a combination of feedstocks comprised of ethane, naphtha and LPG, as well as other available feed. In addition to steam cracker unit, the complex will include relevant downstream units for supplying its products to domestic and international markets, according to various news reports.

Total S.A. is a French multinational oil and gas company and one of the six "Supermajor" oil companies in the world with business in Europe, the United States, the Middle East and Asia. The company's petrochemical products cover two main groups: base chemicals and the consumer polymers (polyethylene, polypropylene and polystyrene) that are derived from them.

Established in 2012, Qatar Chemical and Petrochemical Marketing and Distribution Company (Muntajat) Q.J.S.C. holds exclusive rights to purchase, market, distribute and sell Qatar’s production of chemical and petrochemical products on the global market. Qatar exports 11 million tonnes per year of chemical, polymers and fertilisers, which are sold to customers in more than 120 countries.

Solvay Specialty Polymers names Chase Plastics as newest distributor of PTFE additives

MOSCOW (MRC) -- Solvay, a leading global supplier of specialty polymers, has announced that it has appointed Chase Plastics Services, Inc., a leading stocking distributor of more than 6,400 specialty and engineering thermoplastics, as its newest North American distributor of Solvay’s Algoflon L and Polymist PTFE Micronized Powders, said the producer on its site.

This family of polytetrafluoroethylene (PTFE) additives was specially developed to enhance the processing and end-use performance properties of host products and base resins. Effective January 1, 2017, the move takes advantage of Chase Plastics’ comprehensive North American sales coverage and more than 2,500 current customers to expand market access and technical support for these two high-performance PTFE powders.

"We are pleased to add Chase to Solvay’s PTFE team, and we look forward to working with them to meet the growing demand for Algoflon L and Polymist Micronized Powders from compounders serving multiple markets," said Chris Payne, Channel Partners Manager for North America at Solvay’s Specialty Polymers global business unit. "Our expanding and deepening distribution relationship with Chase further underscores our commitment to support the design goals and competitive growth of PTFE micronized powder customers in this fast-expanding regional market."

The addition of Chase Plastics will not affect Solvay’s Algoflon L or Polymist order fulfillment policies. Solvay will continue to accept and fill direct orders that meet the company’s established minimum order quantities. Small lot orders will be available through Chase Plastics.

Algoflon L and Polymist PTFE Micronized Powders are finely divided, low molecular weight powders that - even at low loadings – impart beneficial properties of PTFE to the host material including, enhanced wear, rub and scratch resistance, improved mold release, anti-stick performance and internal lubrication.

As MRC informed before, in early July 2016, Solvay completed the divestment of its shareholding in Inovyn (London), bringing to an end Solvay's chlorvinyls joint venture with Ineos. Solvay received exit cash proceeds amounting to EUR335 million (USD370.7 million). The dissolution of the jv follows regulatory clearances from the relevant authorities.

Inovyn was formed on 1 July 2015 as a jv between Ineos and SolVin, a subsidiary of Solvay. Solvay and Ineos signaled their decision to end their chlorvinyls jv in March this year.

Solvay, with a market share 27%, is the second largest PVC manufacturer in Europe, after Kerling with 29% of the market. Solvay is headquartered in Brussels with about 30,900 employees spread across 53 countries. It generated pro forma net sales of EUR12.4 bn in 2015, with 90% made from activities where it ranks among the world’s top 3 players.

Shell Midstream buys stakes in three Gulf of Mexico pipelines from BP

MOSCOW (MRC) -- Shell Midstream Partners L.P. said that it had acquired 10% interest in Proteus Oil Pipeline Company, LLC, 10% interest in Endymion Oil Pipeline Company, LLC, and a 1% interest in Cleopatra Gas Gathering Company, LLC from BP, as per the company's press release.

The acquisition price reflects an approximate 7.7 times multiple of Shell's forecasted annual average Adjusted EBITDA attributable to the purchased interests over 2017 and 2018. The acquisition is expected to be immediately accretive to unitholders.

Proteus is a 71-mile crude oil pipeline with a 425,000 bpd capacity. The pipeline provides access to the Mississippi Canyon area of the Gulf of Mexico from the Thunder Horse and Thunder Hawk platform to the Proteus SP 89E Platform. Noble Energy's Big Bend and Dantzler fields are tied back to the Thunder Hawk platform.

Cleopatra is a 115-mile gas gathering pipeline in Southern Green Canyon, with access to Atwater Valley, Walker Ridge, and Lund areas in the Gulf of Mexico. Cleopatra is currently connected to the Holstein, Atlantis, Neptune, Shenzi and Mad Dog platforms. The system will transport new volumes from the Mad Dog 2 field once it comes online.

As MRC informed before, in December 2015, Shell Chemicals asked the Texas Commission on Environmental Quality (TCEQ) for permission to expand ethylene production capacity at its Deer Park, TX, facility. The company noted that several steps remain before it would make a final investment decision, ranging from concluding preparatory engineering and design work and seeking permits from Texas regulators, to evaluating downstream product support and any other potential global investments.

Royal Dutch Shell plc is an Anglo-Dutch multinational oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the biggest company in the world in terms of revenue and one of the six oil and gas "supermajors". Shell is vertically integrated and is active in every area of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading.
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