Total, Sonatrach agree to $3bn petchem complex

04 December 2007 15:35  [Source: ICIS news]

TORONTO (ICIS news)--Total and Sonatrach have agreed to proceed with a planned $3bn gas-based petrochemicals complex in Algeria that could start up around 2013, they said on Tuesday.

 

The companies signed a framework deal for the planned petrochemicals complex at Arzew, near Oran, which was expected to start-up within five years with capacities of 1.1m tonnes/year of ethylene, 800,000 tonnes/year of polyethylene (PE) and 550,000 tonnes/year of monoethylene glycol (MEG), they said.

 

The bulk of the products would go into export markets, they said, adding that technology tenders would be issued soon.

 

“Total is delighted with this agreement, which is in line with our strategy of expanding our petrochemical activities based on world-class facilities,” said Christophe de Margerie, chief executive of the French energy and petrochemicals major.

 

“It [the project] signals our entry into Algeria’s petrochemical industry and strengthens the existing partnership between Total and Sonatrach in oil exploration and production,” he added.

By: Stefan Baumgarten
+1 713 525 2653

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