Total invests €1 billion in modernization project at Antwerp, Belgium site

Total invests €1 billion in modernization project at Antwerp, Belgium site

5:10 AM, 23rd May 2013
Total invests €1 billion in modernization project at Antwerp, Belgium site
Patrick Pouyanne, President, Refining & Chemicals, Total.

PARIS, FRANCE: Total has approved a €1 billion modernization project for its Antwerp production facilities, Total’s largest European refining and petrochemical platform, in line with the Group’s strategy of focusing its investment on its large integrated platforms to position them among the most competitive of the industry.

Two major projects will be implemented in the modernization plan. A new refinery upgrading complex, consisting of a solvent de-asphalting unit and a mild hydrocracking unit. The facility is scheduled to start up in early 2016. A new plant to convert low value refinery fuel gases into low cost petrochemical feedstock, replacing expensive oil-based naphtha.

By further enhancing the integration between the platform’s refining and petrochemical units, this project will increase the competitiveness of the latter. The facility is scheduled to start up in early 2017. Two existing production facilities will be shut down, as they are no longer competitive in the world economic environment.

“The approval of this upgrade plan is a milestone for the further development of the Antwerp facilities into one of the most profitable platform of the refining and chemicals business of Total. With this investment, Total is demonstrating not only its commitment to maintaining its position as a competitive industry leader in Europe and but also its ability to adapt to market trends by reducing its production capacities and emphasizing higher value-added products that meet the most stringent environmental standards,” said Patrick Pouyanne, President, Refining & Chemicals, Total.

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