Borealis sign agreement with Antero Resources supply ethane from US

Borealis, Antero Resources sign ethane supply agreement in Sweden

10:34 AM, 7th August 2014
Borealis sign agreement with Antero Resources supply ethane from US

STENUNGSUND, SWEDEN: Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, has signed a 10-year agreement with Antero Resources to supply ethane from the United States for its flexible steam cracker in Stenungsund, Sweden.

The project also includes a shipping agreement with Navigator Holdings and a related multi-million investment in an upgrade of the cracker and the construction of an ethane storage tank. The ethane supplied from the US complements the recently signed ethane supply contract with Statoil providing Borealis with an alternative attractive source of feedstock for its petrochemical plant in Sweden.

A related long-term shipping agreement has been signed with US-listed Navigator Holdings, one of the largest owners and operators within the handysize liquefied gas carrier segment. For this purpose, Navigator will build a new, 35000 cubic metre state-of-the-art ethane vessel equipped with dual fuel engines. The vessel will be among the most modern in the world and will ensure cost effective, safe and reliable transport of ethane to Stenungsund.

“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. This contract and the related investments underline our commitment to further strengthen our monomer position in Europe,” said Markku Korvenranta, Executive Vice President, Base Chemicals, Borealis.

 

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