Home / Knowledge / News / Textiles / Olefins & polyolefins producer Borealis signs ethane deal
Olefins & polyolefins producer Borealis signs ethane deal
18
Aug '14
Swedish integrated olefins and polyolefins producer, Borealis, has inked a 10-year deal with Antero Resources to supply ethane from the US for its flexible steam cracker in Stenungsund, Sweden.

Alongside, Borealis has also signed a shipping agreement with Navigator Holdings to ship the ethane to its site in Stenungsund. It is additionally investing in an upgrade of the Stenungsund cracker and the construction of an ethane storage tank.

Borealis had recently signed an ethane supply contract with Statoil and this new US contract, Borealis said, complements the Statoil contract, by providing Borealis with an alternative attractive source of feedstock for its petrochemical plant in Sweden.

Antero Resources will supply ethane originating from the Marcellus and Utica shale formations to Borealis in Stenungsund, the first delivery of which is planned for late 2016. Borealis has signed parallel fractionation, pipeline and terminal service contracts to enable free on board (FOB) delivery.

The ethane supply coming to Stenungsund by ship will be stored in a purpose-built, fully refrigerated ethane tank, for which a turnkey agreement has been signed with TGE Gas Engineering GmbH to construct the tank.

In parallel, Borealis will also upgrade its steam cracker to enable increased ethane cracking.

"We need to take advantage of the significant shift in ethane availability triggered by the US shale gas boom," says Mark Garrett, Borealis Chief Executive. "In an increasingly challenging environment in Europe this is an exciting opportunity to increase the competitiveness of our integrated polyolefins business."

"The ethane contract with Antero Resources in combination with the recently renewed North Sea-based ethane contract with Statoil provides us with an ideal portfolio of sources balancing cost competitiveness and supply security," comments Markku Korvenranta, Borealis Executive Vice President Base Chemicals.

“The cracker in Stenungsund is one of the most feedstock-flexible crackers in Europe. In addition to ethane, it can also crack naphtha, propane and butane”, Borealis said.

Fibre2fashion News Desk - India


Must ReadView All

Pakistan’s FBR imposes 5% sales tax on cotton import

Textiles | On 21st Jul 2018

Pakistan’s FBR imposes 5% sales tax on cotton import

Pakistan’s Federal Board of Revenue recently withdrew sales tax...

Bangladesh drafts policy for Tk1,000 cr govt jute fund

Textiles | On 21st Jul 2018

Bangladesh drafts policy for Tk1,000 cr govt jute fund

Bangladesh will set up a Tk10,000-crore Jute Sector Development Fund...

Ahmad A. Al Sa’adi and Kwon Pyung-Oh display a comprehensive Memorandum of Understanding; Courtesy: Saudi Aramco

Textiles | On 21st Jul 2018

Saudi Aramco, KOTRA sign MoU for business cooperation

Saudi Aramco has signed an MoU with the Korea Trade-Investment...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search