Inovyn, PVC-producing subsidiary of Ineos, has inked two long-term power supply deals with Norway’s Statkraft, which claims to be Europe’s largest renewables producer. From May, Inovyn will draw 100 MW of exclusively renewable energy from Statkraft for an annual renewable energy production of 876 GWh per year and an additional 30 MW (263 GWh) from 2026.
Ineos Enterprises has signed an agreement to buy MBCC Group’s admixture business from Sika. The deal is required by European antitrust regulators to approve Sika’s purchase of the MBCC Group, formerly BASF Construction Chemicals. The transaction is scheduled to complete in the first half of this year, subject to regulatory approvals.
Ineos has agreed a fourth joint venture with Sinopec that will see it take a 50% share in the Tianjin Nangang project, which is currently underway and due to go on stream at the end of 2023.
UK-steered petrochemicals giant Ineos has signed long-term charter agreements with Japan’s IINO Kaiun Kaisha line for delivery of two Very Large Ethane Carriers (VLECs) with a volume of 99,000 cbm, initially to supply liquefied natural gas (LNG) to Germany.
The European Commission has fined five companies a total of €157 million for forming a styrene cartel that operated from May 2012 to June 2018. Affected are Sunpor, Synbra, Synthomer, Synthos and Trinseo. As the member that blew the whistle in 2017, Ineos escaped a fine.
Ineos Olefins & Polymers Europe and Plastic Energy have signed a Memorandum of Understanding (MOU) to produce 100,000 t/y of petrochemical feedstock from recycled plastic waste.
Ineos has tapped Technip Energies to supply proprietary equipment for the 1.45 million t/y ethane cracker the UK group’s Olefins arm is building at Lillo in the Port of Antwerp.
Ineos’ vinyls business Inovyn has rebranded as Ineos Inovyn with effect from Oct. 21. At the same time, Inovyn’s hydrogen business has been renamed Ineos Hydrogen.
Ineos Enterprises has agreed to acquire Ashta Chemicals from Bigshire Mexico for an undisclosed sum. The deal that includes a 100,000 kg/y potassium hydroxide (KOH) and a 65,000 t/y chlorine plant, is targeted to close before the end of 2022, subject to regulatory approvals.
Ineos O&P Europe, the olefins and polyolefins arm of the Ineos group that steers its European business, will invest €30 million to convert existing capacity at its polyethylene plant at in Lillo in the Port of Antwerp to either monomodal or bimodal grades of high-density polyethylene (HDPE).
Ineos Phenol is paying $330 million to acquire Mitsui Phenols Singapore. With the deal, expected to close in the first quarter of 2023, subject to regulatory approval, it will add 1 million tonnes of annual capacity to its production volume. The business had sales of $750 million in 2021 and 120 employees, all of whom will transfer to the new owner.
British multinational engineering and consulting group Wood has won a contract worth more than $100 million to provide engineering and construction management services to Ineos’ proposed cracker complex in Antwerp, Belgium.
It has gone somewhat quiet around new European joint ventures in China of late, but Ineos has just announced three back-to-back projects with Chinese state-owned Sinopec that it said are worth altogether $7 billion and will lead to sales of around $10 billion from 7 million tonnes of production.
After Russia announced further cuts in its gas supply to Germany starting Jul. 27, ammonia producers were weighing plans to curb output of the commodity, for which natural gas is the key feedstock.
Ineos Oligomers is expanding its plant for High Viscosity polyalphaolefins (PAO) at La Porte, Texas, in stages up to mid-2025.
Ineos Acetyls has launched a feasibility study to explore building a world scale plant for acetic acid and derivatives on the US Gulf coast.
Spain’s Tecnicas Reunidas has won a contract for Ineos’ ethylene cracker project in Antwerp, Belgium. The scope of work includes project management, engineering, procurement and construction management and supervision services. The value of the contract was not disclosed.
Ineos is pressing full speed ahead to implement its investment strategy for green hydrogen across Europe. In its latest move, the company said it is participating in a project with SGN, the network that distributes natural and “green” gas across the south of England as well as Scotland, to build a UK-wide delivery network for hydrogen.
From its inception in 1881, SCI's principal objective has been to further the application of chemistry and related sciences into industry for the public benefit.
Ineos Nitriles has announced plans to build a 15,000 t/y acetonitrile plant at Cologne, Germany, one of its key operating sites. Without quantifying the investment, it said it would be “substantial.”
The Antwerp@C project, which aims to halve the Port of Antwerp’s CO2 emissions, has started engineering studies following the completing of a feasibility study last year. The engineering studies will further investigate constructing a central “backbone” throughout the port, along the industrial zones on both the Right and Left Banks of the River Scheldt.
Ineos Styrolution has sold its StyLight thermoplastic composite materials business to German family-owned firm Ensinger for an undisclosed sum.
As part of a collaboration agreed last year, petrochemicals giant Ineos will test Plastic Energy’s chemical – or advanced – recycling technology at the refinery in Grangemouth, Scotland owned by Petroineos, its joint venture with PetroChina.
Ineos Olefins Belgium has received an environment permit for its planned €3 billion shale gas-fed ethane cracker in the Port of Antwerp, which is now due on steam in 2026. The permit for the facility announced in 2019 and dubbed Project One, is the first step toward approval.
Ineos Styrolution has confirmed plans to invest in a pilot plant in the UK for the chemical recycling of polystyrene (PS). The site in Swindon is being developed in collaboration with Recycling Technologies, a UK-based company with proprietary, patented depolymerization technology, and US plastics and rubber producer Trinseo.
Antwerp is the home port of the largest integrated chemical cluster in Europe. It is the place for entering into partnerships throughout the chain and even across sectors.
Ineos subsidiary Inovyn is planning to build a large-scale 100-megawatt electrolyzer at its site in Cologne, Germany, to produce green hydrogen. In addition, the firm will upgrade existing hydrogen supply in Runcorn, UK. Both moves form part of Ineos’s plans announced on Oct. 18 to spend more than €2 billion on green hydrogen projects.
Ineos has announced plans to spend more than £1 billion toward reducing greenhouse gas emissions at its Grangemouth site in Scotland to net zero by 2045.
Ineos Energy, Wintershall Dea and a consortium of 29 companies, research institutes and universities have signed an agreement to support the next and second phase of the Greensand pilot project in Denmark to demonstrate the safe and permanent storage of CO2.
Ineos has sold its Sulphur Chemicals business to International Chemical Investors Group (ICIG), the fine chemicals platform of the Luxembourg- and Germany-based industrial private equity investor. Financial details of the transaction were not disclosed.
The EU Commission’s ambitious plan for a European Green Deal, launched shortly before the pandemic struck in early 2020, aims to make the continent the world’s first climate-neutral region by 2050. The goals spelled out in January last year call for reduction of greenhouse gas emissions by at least 50% up to 2030, compared with 1990 levels.
Ineos Phenol and utility group Engie are planning a pilot project in Doel, Belgium, that will use hydrogen in a commercial-scale cogeneration plant, replacing the natural gas feed for generating electricity and heat. Initially, 10% of the gas feed will be replaced with hydrogen and, if all goes well, this will be increased to 20%. Engie is responsible for the design, installation and operation of the technology.
Ineos completed its $5 billion acquisition of major petrochemicals assets from BP at the end of 2020, gaining 1,700 employees and adding two new subsidiaries, Ineos Aromatics and Ineos Acetyls.
Confirming speculation earlier in the week, Ineos has announced the appointment of former BP chief financial officer, Brian Gilvary to head a new energy company called Ineos Energy.
Ineos Olefins and Polymers USA has agreed terms to buy Sasol’s 50% stake in their Gemini joint venture for $404 million, taking full ownership. The deal is scheduled to close by year end, contingent on financing.
