17 April 2002 14:47 [Source: ICIS news]
LONDON (CNI)--Sabic has terminated its negotiations to buy a 51% stake in EniChem subsidiary Polimeri Europa partly due to potential environmental problems which may affect an ethylene cracker at Gela, Italy, a spokesman at EniChem parent Eni told CNI on Wednesday.
Sabic and Eni have said in identical statements, received today, that the collapse of the talks "was influenced by, among other things, recent problems occurring at some of the plants included in the discussion".
Last month, Polimeri Europa just avoided the need to close its 250 000 tonne/year ethylene cracker in Gela, Sicily thanks to the reversal of an earlier legal order to shut its refinery at the site.
A Gela public prosecutor had ordered the shutdown of the 100 000 bbl/day refinery, which supplies feedstock to the cracker, because of atmospheric pollution caused by burning 'pet coke'. This order was reversed because of a new government decree allowing the use of 'pet coke'.
Environmental group WWF Italia said earlier the decree had come too late to overturn the public prosecutor's decision to close the refinery.
However, a source at Polimeri Europa confirmed with CNI today the Gela cracker is currently running normally.
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