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Basell purchases ethylene cracker from BP-PdVSA JV
03 Jan '07
2 min read
Basell announced that it has purchased the cracker at the Münchsmünster, Germany petrochemical site from Ruhr Oel GmbH (ROG), a joint venture between Deutsche BP and PdVSA, the Venezuelan state-owned oil company. The transaction, which includes sales agreements and assets associated with the cracker, has been approved by the European Commission.
“This is a strategically important acquisition for Basell because it secures the supply of ethylene for the new Hostalen Advanced Cascade Process (ACP) high density polyethylene (HDPE) plant we are building at Münchsmünster and also strengthens Basell's position in propylene and other cracker products,” said Volker Trautz, President and CEO of Basell.
Basell's new HDPE plant in Münchsmünster, which is scheduled to start up in early 2009, will replace the plant that was damaged by an explosion and fire in December 2005. The new plant will have an initial capacity of 120 KT and will accommodate future expansion to 150 KT.
“We believe that the Münchsmünster plant is an important part of the Bavarian chemical industry,” said Patrick Dixon, Chairman of the Executive Board, BP Refining & Petrochemicals (BP RP, operator of the ROG JV).
“However, BP has sold most of its olefins and polyolefins business to Ineos, and PdVSA does not have any other olefins and polyolefins activities in Europe beyond the Gelsenkirchen-Scholven assets. ROG therefore believes that it is more logical for a company with a strong interest in the chemicals industry in the Bavarian region to own the Münchsmünster cracker.”
“This is a strategically important acquisition for Basell because it secures the supply of ethylene for the new Hostalen Advanced Cascade Process (ACP) high density polyethylene (HDPE) plant we are building at Münchsmünster and also strengthens Basell's position in propylene and other cracker products,” said Volker Trautz, President and CEO of Basell.
Basell's new HDPE plant in Münchsmünster, which is scheduled to start up in early 2009, will replace the plant that was damaged by an explosion and fire in December 2005. The new plant will have an initial capacity of 120 KT and will accommodate future expansion to 150 KT.
“We believe that the Münchsmünster plant is an important part of the Bavarian chemical industry,” said Patrick Dixon, Chairman of the Executive Board, BP Refining & Petrochemicals (BP RP, operator of the ROG JV).
“However, BP has sold most of its olefins and polyolefins business to Ineos, and PdVSA does not have any other olefins and polyolefins activities in Europe beyond the Gelsenkirchen-Scholven assets. ROG therefore believes that it is more logical for a company with a strong interest in the chemicals industry in the Bavarian region to own the Münchsmünster cracker.”
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