Borealis new long term agreement source ethane from Norwegian steam cracker in Sweden

Borealis to supply ethane to Statoil’s steam cracker in Sweden

12:02 PM, 11th February 2014
Borealis source ethane from Norwegian
(from left) Mark Garrett, CEO, Borealis and Eldar Saetre, Executive Vice President, Statoil.

VIENNA, AUSTRIA: Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, announced 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, Sweden.

Borealis and Statoil have renewed the contract for the supply of ethane from Statoil’s gas plant at Karsto, 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 seven years.

“The renewal of the ethane supply contract with Statoil shows the value of our long term partnership. 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,” explained Mark Garrett, Chief Executive, Borealis.

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