INEOS has taken yet another bold step to reinforce its global position.
Last month it confirmed that it planned to build the largest butane storage tank ever seen in Europe.
Once built, INEOS will be able to import lowcost butane from America, and other world markets in the largest ships possible to supply competitive raw materials to its naphtha crackers in Köln, Germany, and ultimately Lavéra in France.
The tank, which will be built in Antwerp, will also mean INEOS Trading & Shipping can sell butane in Europe.
INEOS’ gas crackers – in Norway and Scotland – are already reaping the benefits of INEOS’ decision to ship low-cost ethane from the US to Rafnes and Grangemouth where it is stored in huge, purpose-built tanks.
The latest news also reinforces Belgium’s important position in the world of petrochemicals.
The Port of Antwerp is already home to the biggest ethylene terminal in Europe and the second largest in the world, thanks to INEOS.
Seven years ago INEOS invested 100 million euros in the new, one million tonne terminal so it could import low-cost ethylene from around the world for its European plants and those connected along the ARG pipeline.
“This latest tank and terminal will provide INEOS with increased flexibility and security of supply that will significantly improve our competitiveness in Europe,” said David Thompson, CEO INEOS Trading & Shipping.
“It also positions INEOS as a major player in global LPG markets.”
Holger Laqua, Plant Manager at INEOS Oxide, believes INEOS is driving the chemical industry in Europe.
“A few years ago others thought the European chemical industry was dead but we made some good decisions,” he said.