PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: Borealis AG

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Borealis and Statoil to Renew Their Long Term Ethane Sourcing Contract - Borealis announces a new long term agreement to source ethane from Norwegian Statoil for its flexible steam cracker in Stenungsund, Sweden - BorealisGroup.com
Borealis and Statoil to Renew Their Long Term Ethane Sourcing Contract

 

NewswireToday - /newswire/ - Stenungsund, Sweden, 2014/02/10 - Borealis announces a new long term agreement to source ethane from Norwegian Statoil for its flexible steam cracker in Stenungsund, Sweden - BorealisGroup.com. Borealis

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, announces a new long term agreement to source ethane from Norwegian Statoil for its flexible steam cracker in Stenungsund, Sweden. This contract will continue to provide Borealis with an attractive source of feedstock for its petrochemical complex in Stenungsund.

Borealis and Statoil have renewed the contract for the supply of ethane from Statoil’s gas plant at Kårstø, Norway, which will secure a significant volume of ethane to Borealis’ cracker in Stenungsund for the coming years. The ethane supply has been agreed at competitive terms for both parties, taking into account the global change of the ethane market due to the availability of US shale gas. The new contract will start in October 2015 and last for a period of 7 years.

“The renewal of the ethane supply contract with Statoil shows the value of our long term partnership,” explains Mark Garrett, Borealis Chief Executive. “This new contract will secure that our Stenungsund petrochemical complex will stay ahead of the curve in an increasingly competitive environment for the European industry.”

Borealis’ cracker in Stenungsund is one of the most feedstock flexible crackers in Europe. Apart from ethane it can also crack naphtha, propane and butane. Stenungsund has significant liquefied petroleum gas (LPG) storage capacity, allowing the company to source LPG from various sources with vessel sizes up to very large gas carriers.

“The new ethane deal will secure the continuous supply of competitively priced ethane to the Stenungsund cracker,” says Markku Korvenranta, Borealis Executive Vice President Base Chemicals. “The short sailing time between Statoil’s Kårstø gas extraction plant and Stenungsund has enabled us to operate the supply chain without major issues for the last 14 years to the benefit of both parties.”

“Statoil is pleased to enter into a long-term ethane agreement with Borealis. This extends a productive relationship that has existed from the 90’s when Statoil had an ownership stake in Borealis and with the start of ethane deliveries from Kårstø in 2000,” comments Tor Martin Anfinnsen, Statoil’s Senior Vice President for the Crude Liquids and Products Business Unit. “This agreement favourably positions Norwegian ethane and the Kårstø location competitively in a future market place where ethane feedstock import from the US has become available to European based petrochemical plants.”

Borealis’ olefins portfolio in Europe is built around integrated crackers and derivative complexes:
• Porvoo, Finland
• Stenungsund, Sweden
• Kallo, Belgium
• Schwechat, Austria
• Burghausen, Germany

Borealis’ Polyolefins capabilities position the company’s business in Europe among the leading and innovative supplier to the polyethylene (PE) and polypropylene (PP) market.

About Statoil
Statoil is an international energy company with operations in 33 countries. Building on 40 years of experience from oil and gas production on the Norwegian continental shelf, we are committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. We are headquartered in Stavanger, Norway with approximately 23,000 employees worldwide, and are listed on the New York and Oslo stock exchanges.

About Borealis
Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, Borealis currently employs around 6,200 and operates in over 120 countries. It generated EUR 7.5 billion in sales revenue in 2012. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, with the remaining 36% owned by OMV, the leading energy group in the European growth belt. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).

Building on the unique Borstar® and BorlinkTM technologies and 50 years of experience in polyolefins, Borealis and Borouge support key industries including infrastructure, automotive and advanced packaging. The Borouge plant expansion in Abu Dhabi will be fully operational by mid-2014 with a total annual capacity of 4.5 million tonnes. After this Borealis and Borouge will have approximately 8 million tonnes of polyolefin capacity.

Borealis offers a wide range of base chemicals, including melamine, phenol, acetone, ethylene and propylene servicing a wide range of industries. Together with Borouge the two companies will produce approximately 6 million tonnes of Base Chemicals in 2014.

Borealis also creates real value for the agricultural industry with a large portfolio of fertilizers. The company distributes approximately 2.1 million tonnes per year. This volume will increase to around 5 million tonnes by the end of 2014.

Borealis and Borouge aim to proactively benefit society by taking on real societal challenges and offering real solutions. Both companies are committed to the principles of Responsible Care®, an initiative to improve safety performance within the chemical industry, and contribute to solve the world's water and sanitation challenges through product innovation and their Water for the WorldTM programme.

For more information visit borealisgroup.com | borouge.com | waterfortheworld.net

Borlink and Water for the World are trademarks of the Borealis Group.
Borstar is a registered trademark of the Borealis Group.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Borealis AG

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Manufacturing/Robotics articles,
CATCH Visitors via Your Competitors Announcements!


Borealis and Statoil to Renew Their Long Term Ethane Sourcing Contract

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Kerstin Meckler - BorealisGroup.com 
+43 122 400 398 kerstin.meckler[.]borealisgroup.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Borealis AG securities in any jurisdiction including any other companies listed or named in this release.

Manufacturing/Robotics via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Borealis AG / Company Profile


Read Manufacturing/Robotics Most Recent Related Newswires:

BASF Launches Ucrete MF40AS Industrial Flooring System on the European Market
Raritan Unveils Intelligent Cabinet Concept in Collaboration with Legrand Data Communications At Gartner Conference
Beretta Continues Global Celebration of its 490th Anniversary with Unveiling of One-of-a-Kind Shotgun in New York City
LANXESS Virkon S Proven to Kill Highly Pathogenic Avian Influenza Strains
BASF to Offer Tailor-made Product Innovation At European Coatings Show
Nexans to Drive Sustainable Transportation At its Annual Technical Conference
Tripp Lite Introduces A New Series of Pre-assembled 40 Gb to 10 Gb Breakout Fiber Patch Panels
Borealis and Asmidal Sign Memorandum of Understanding to Jointly Evaluate Opportunities for Melamine Production in Algeria
SCHOTT’s New Ultra-Thin Glass is the Thinnest, Toughest, Most Eco-Friendly Glass for Consumer Electronics
Hexagon Manufacturing Intelligence Supplies PTB with Leitz PMM-G
Atlas Copco Completes Acquisition of Chinese Self-pierce Riveting Solutions Business
SCHOTT Introduces Superior X-ray Imaging with SCHOTT’s Fiber Optic Faceplates and BOROFLOAT® Glass
PPG Wins Big At 2016 SEMA Show PPG-painted Cars, Trucks Capture Major Awards
Tripp Lite’s Breakthrough 3-Phase Rack ATS PDUs Granted U.S. Patent
Nexans Launches PVC-free MOTIONLINE® HALEX Automation Cables

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  BizJobs.com

Visit  Triggr & Bloom





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)