NOVA Chemicals Corporation　　　　　　歴史

NOVA Chemicals Corporation, headquartered in Calgary, Alberta, Canada is a focused commodity chemical company, producing styrenics and olefins/polyolefins at 18 locations in the United States, Canada, France, the Netherlands and the United Kingdom.

As of January 2000, we are the:
　largest producer of styrene and polystyrene in North America
　2nd largest producer of styrenic polymers in Europe
　5th largest producer of ethylene in North America
　5th largest producer of polyethylene in North America

We operate two businesses - olefins/polyolefins and styrenic polymers. From plants in Canada, the U.S., and Europe, we produce:

　　Olefins/polyolefins

ethylene
polyethylene
chemical and energy co-products, including all the olefin and aromatic petrochemical building blocks

　Styrene and styrenic polymers

specialty polystyrene including DYLARK^® engineering resins
expandable polystyrene (EPS)
solid polystyrene

NOVA Chemicals selected as partner for proposed world-scale ethylene/polyethylene complex in Mexico

NOVA Chemicals announces intent to form European Styrenics Joint Venture with BP

ＢＰ、ＮＯＶＡとの提携でＬＬＤＰＥ生産性アップ

BP and NOVA Chemicals sign binding agreements for European Styrenics JV:NOVA Innovene

NOVA Chemicals announces agreement with Taiwan's Loyal to manufacture ARCEL(R) resin in Shanghai

NOVA Chemicals restructuring to create separate STYRENIX unit and cut costs

US styrenics sector in need of further consolidation

NOVA Chemicals announces start-up of ARCEL(R) resin manufacturing facility to support growing Asian markets

NOVA Innovene announces intention to close its Polystyrene site in Carrington, UK

Nova still weighing options for Styrenix unit: spokeswoman

NOVA Chemicals、北米のSM、PS事業をINEOSとのJVに移管

INEOS NOVA joint venture approved by Federal Trade Commission

INEOS NOVA joint venture will acquire rights to Sterling styrene production

Nova to shut Sterling's 1.7B lbs/yr SM unit at Texas City, TX

INEOS NOVA announces Montréal polystyrene production to shut down

Nova Chemicals envisions big expansion of Alberta petrochemical industry

NOVA Chemicals and Williams announce letter of intent for project to extract ethane from Alberta oil sands

Ineos Nova to shut US polystyrene facility at Belpre, Ohio

NOVA Chemicals announces plans for Ontario polyethylene asset modernization and expansion

IPIC of Abu Dhabi acquires NOVA Chemicals

Borealis acquires 24.9% of Nova from IPIC

NOVA Chemicals Announces MOU with Statoil for Ethane Supply from Marcellus Shale

Nova Chemicals sells Performance Styrenics business

歴史

* Includes production of select Performance Products.
⁽¹⁾ Excludes Dow portion of ethylene capacity
⁽²⁾ This represents the equity position in the Lyondell Chemical Company, Channelview, Texas facility and does
   not include a short-term tolling arrangement for an additional 400 million pounds.

October 20, 2003

NOVA Chemicals shuts down high-cost polyethylene capacity
　　　http://www.nova.ca/08_news/a_line_1003.html

NOVA Chemicals Corporation today announced the shutdown of a 275 million pound linear low-density polyethylene line at its St. Clair River Site, in Corunna, Ontario. This shutdown will occur during the second quarter of 2004.

October 21, 2004 NOVA Chemicals

NOVA Chemicals selected as partner for proposed world-scale ethylene/polyethylene complex in Mexico
http://www.novachem.com/08_news/phoenix_1004.html

NOVA Chemicals Corporation today confirmed it has been selected by Pemex Petroquimica (Pemex) as a partner in a feasibility study for a potential world-scale ethylene and polyethylene complex in Mexico.

This confirmation follows today’s announcement by Pemex, which has named NOVA Chemicals and two Mexican companies - Grupo Idesa and Indelpro - as its strategic joint-venture partners in the proposed ethylene-based petrochemicals and plastics complex known as Project Phoenix. The partners have committed to a feasibility study that aims to confirm the project will deliver a globally competitive ethylene cracker and key derivatives, initially including two world-class polyethylene plants.

November 16, 2004 NOVA Chemicals

NOVA Chemicals announces intent to form European Styrenics Joint Venture with BP
http://www.novachem.com/08_news/bpjv_1104.html

NOVA Chemicals Corporation today announced it has reached an agreement in principle to merge its European styrenic polymers business into a new 50:50 Joint Venture with BP plc (BP). The planned Joint Venture is expected to be a leading manufacturer and marketer of styrenic polymers in Europe and will be headquartered in Fribourg, Switzerland.

September 6, 2005 NOVA Chemicals

NOVA Chemicals announces agreement to manufacture ARCEL(R) resin in Asia to meet demand growth
http://www.novachem.com/appl/prelease/news.cfm?ID=301

NOVA Chemicals Corporation today announced that it has entered into a long-term agreement with Loyal Chemical Industrial Corporation to manufacture ARCEL(R) moldable foam resin near Shanghai, China. This agreement is a component of NOVA Chemicals´ plan to expand manufacturing capacity for ARCEL, a one-of-a-kind expandable inter-polymer, to 100 million pounds (45 kilotonnes) annually by the end of 2006.

Construction of the ARCEL resin manufacturing facility is underway and production is expected to commence in early 2006.

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ARCEL(R) 　　　　　　http://www.novachem.com/ARCEL/index.cfm

ARCEL is a high-performance, moldable foam resin consisting of 70% polystyrene (PS) and 30% polyethylene (PE). ARCEL provides the best of both polymers with its exceptional toughness, flexibility and durability in a lightweight foam.
The strength and flexibility of ARCEL creates a resilient resin able to be molded into numerous complex and intricate forms. Its lightweight construction is resistant to puncture, flaking, tearing and breaking. In addition, packaging molded with ARCEL provides superb cushioning and easy handling, while its lightweight properties help lower freight and other packaging costs.

NOVA Chemicals June 26, 2006

NOVA Chemicals restructuring to create separate STYRENIX unit and cut costs

NOVA Chemicals Corporation today announced it plans to restructure in order to better align resources and reduce costs. NOVA Chemicals' styrene monomer and solid polystyrene assets in North America and the company's interest in the European 50:50 Joint Venture with INEOS will operate as a separate unit that will be known as STYRENIX.

Companywide costs will be reduced by a total of at least U.S. $65 million per year, which represents an additional $50 million in annual cost savings beyond the previously announced savings of $15 million per year from the Chesapeake, Virginia, site closure. In total, approximately 375 positions will be eliminated.

"By removing a minimum of $65 million per year of current costs, we believe STYRENIX will be able to run as the lowest-cost operator of its type in the industry," said Jeffrey M. Lipton, President and CEO of NOVA Chemicals. "By taking these actions, not only will STYRENIX be more competitive, but the core of our company will also reduce costs and be able to focus on our advantaged ethylene and polyethylene position, as well as expandable polystyrene and related Performance Products."

NOVA Chemicals’ Earnings Release for the second quarter, to be issued July 20, 2006, will reflect the new structure.

NOVA Chemicals produces plastics and chemicals that are essential to everyday life. Our employees develop and manufacture materials for customers worldwide that produce consumer, industrial and packaging products. NOVA Chemicals works with a commitment to Responsible CareR to ensure effective health, safety, security and environmental stewardship. Company shares are traded on the Toronto and New York stock exchanges as NCX.

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Platts 2006/7/20

US styrenics sector in need of further consolidation: Lipton

Nova Chemical CEO Jeff Lipton said in a Thursday conference call he feels it is necessary for the US styrenics industry to keep shutting down facilities, consider consolidation and start moving on to stop bleeding profits in the weak sector.


His statements come on the heels of Nova's company restructure, which placed the recently reopened Bayport plant in the non-core Styrenix division.
The said division lost $45 million in the quarter ending June 30. Lipton said Styrenix will not be considered part of the core business "no matter what happens in the short-term."

On June 26, Nova reported that it was separating its North American styrenics businesses and its interest in the European 50:50 joint venture with Ineos into Styrenix.

Nova said it will keep its ethylene, polyethylene and expandable polystyrene businesses. Nova will separate its businesses into three separate units, according to a company spokesman -- ethylene and polyethylene, EPS and performance products, and Styrenix.

　　　Performance Products:

ARCEL(R) - high-performance, moldable foam resin
DYLARK(R) - automotive engineering resins
DYLARK(R) FG - high-heat styrenic copolymer
SURPASS(R) - performance film, rotational molding & thin-wall injection molding resins
ZYLAR(R) EX - low-temperature, clear acrylic copolymer

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http://www.theglobeandmail.com/servlet/story/RTGAM.20060720.wnova0720/BNStory/Business/home

Nova Chemicals sees strong future (2006/7/20)

Nova Chemicals Corp. is predicting continued strong markets for its key plastics after reporting second-quarter net income of $108-million (U.S.), up from a year-ago loss of $5-million.

The chemical producer, headquartered in Pittsburgh but with extensive operations in Canada and its shares inter-listed on the Toronto Stock Exchange, said Thursday its April-June revenue was up 22 per cent to $1.62-billion from $1.33-billion.

The latest quarter's net earnings ? substantially boosted by reduced Alberta and federal tax rates ? were worth $1.30 per share, up from a year-ago loss of 29 cents per share, and represented a return on equity of 31.8 per cent.

Nova stock was up four per cent near midday, gaining $1.39 (Canadian) to $34.78 on the Toronto Stock Exchange.

"Global growth keeps on looking stronger and Mid-eastern capacity expansion looks more and more uncertain," president and CEO Jeff Lipton said during a conference call with analysts.

"It's hard to see anything but global recession stopping what should be not a mere peak but a long plateau of very strong conditions for our industry."

In the meantime, Nova has "taken aggressive action to change our company from a pure commodity one to one focused on advantaged olefins and polyolefins and unique performance products," Mr. Lipton said.

During the quarter, Nova rearranged itself into three business units, and its olefins/polyolefins and expandable polystyrene/styrenic divisions generated net income of $147-million or $1.77 per share.

But the Styrenix business, being separated from the rest of the company with hopes it can be sold or spun off, lost $45-million or 54 cents per share on revenue of $510-million.

Styrenix - producing thermoplastics used in an array of processes including compounding, extrusion and injection moulding - includes a styrene facility in Sarnia and solid polystyrene production in Montreal, as well as four U.S. plants and a half-interest in a European joint venture.

Nova, which originated half a century ago in the old Alberta Gas Trunk Line Co. and became an independent company in 1998, is closing its Chesapeake, Va., polystyrene plant with the loss of 125 jobs and a saving of $15 million a year.

A wider restructuring will save an additional $50 million, involving 250 other jobs cuts "including a significant number of very senior positions," Lipton told analysts.

Of the $65-million in total savings, $45 million will be at Styrenix.

"We believe we have a controllable plan in place to stop the new Styrenix from bleeding dollars in no longer than 1½ years," Mr. Lipton added.

"The new Styrenix will soon be able to stand on its own, and will be a very clean and attractive set of assets for the industry to think about consolidating," he said.

"Our goal is to have an ultimate solution to this business unit sooner rather than later."

Nova's Canadian operations include the world's largest ethylene and polyethylene complex in Joffre, near Red Deer, Alta., as well as four plants in the Sarnia, Ont., area and the Montreal polyethylene facility.

The company also has seven plants in the United States and two in Chile, but Lipton stressed the "Alberta advantage" of low-cost natural gas - currently worth 20 cents per pound of plastic- and predicted strong markets for Joffre's polyethylene amid low inventories.

Additionally, the April 1 reduction in the Alberta corporate tax rate and promised future federal tax cuts added $60 million to second-quarter net earnings by reducing deferred tax liabilities.

"We see the short-term fundamentals for the olefins and polyolefins as very positive, with very low inventories and very strong demand," Mr. Lipton said.

"For Nova, the Alberta advantage is giving us excellent margins at today's polyethylene price levels, and any movement up will be icing on our cake."

　

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January 19, 2006

NOVA Chemicals announces closure of Chesapeake, Virginia, site

NOVA Chemicals Corporation (NYSE, TSX: NCX) today announced it plans to close its Chesapeake, Virginia, site in 2006. The plant has solid polystyrene production capacity of 300 million pounds (136 kilotonnes) per year and compounding capability of 170 million pounds (77 kilotonnes) per year.

"We continue to drive cost improvements in our Styrenics business as aggressively as possible. We were able to take this step because upgrades to the Performance Products operations at our Belpre, Ohio, site freed up capacity at other locations,"said Chris Pappas, President of NOVA Chemicals' Styrenics business."We remain firmly committed to ZYLAR^® and our other compounded products and plan to identify production alternatives in 2006. We will also work to make this transition seamless for our customers and as successful as possible for our affected employees."

July 18, 2006 NOVA

NOVA Chemicals announces start-up of ARCEL(R) resin manufacturing facility to support growing Asian markets

NOVA Chemicals Corporation today announced the successful start-up of an ARCEL(R) moldable foam resin manufacturing facility in Ningbo, China, near Shanghai. The new facility, Ningbo Chang-Qiao Engineering Plastics Co., Ltd., ensures local sourcing of ARCEL in Asia and is operated under a long-term manufacturing agreement with Loyal Chemical Industrial Corporation, the largest expandable polystyrene producer in the world.

ARCEL is a high-performance, moldable foam resin consisting of 70% polystyrene (PS) and 30% polyethylene (PE). ARCEL provides the best of both polymers with its exceptional toughness, flexibility and durability in a lightweight foam.

Loyal Chemical Industrial Corporation was founded in 1976 and specializes in a full range of EPS products, using the brand name King Pearl. Within 14 years of entering the Chinese market, Loyal Chemical has become the largest EPS manufacturer in the world, with an annual capacity of more than 1.9 billion pounds (880 kilotonnes). The company’s newest, preeminent plant in Tianjin began operation in June 2006 with a capacity of 180 kilotonnes. Loyal Chemical (www.loyalgroup.com) is a reliable and respected private organization in Taiwan and China.

July 25, 2006 Nova Chemicals 　　　　　　　　　　　米国

NOVA Chemicals announces reduction of solid polystyrene capacity and fixed costs in Europe

NOVA Chemicals Corporation today announced continued progress toward a target of $60 million per year in joint venture synergies by the end of 2007, with the announced closure of NOVA Innovene's Carrington, UK, solid polystyrene facility. NOVA Chemicals will receive 50 percent of the benefit of total joint venture synergies.

The Carrington facility closure, announced today in a news release issued by NOVA Innovene, will remove approximately six percent of European solid polystyrene capacity and reduce NOVA Innovene's fixed costs by approximately U.S. $14 million per year. Production at the Carrington solid polystyrene facility, which has rated capacity of 396 million pounds (180 kilotonnes) annually, is scheduled to cease in October 2006.

The plant has a capacity of 180,000 tonnes and currently employs 82 people.
The Carrington plant, formerly operated by Shell, made both expanded polystyrene and general moulding grades. The EPS plant was shut down by Nova last year after being idle for three years.

NOVA Innovene 　http://www.nova-innovene.com/

Headquartered in Fribourg, Switzerland, NOVA Innovene is a 50:50 joint venture between NOVA Chemicals and INEOS, who acquired BP's Innovene in December 2005. With a turnover of Euro 1 billion per annum, NOVA Innovene is a European leader in styrenic polymers, supplying customers in a wide range of market segments. NOVA Innovene employees develop, manufacture and market commodity and performance styrenic polymers that are essential to everyday life.

July 25 th 2006　NOVA Innovene

NOVA Innovene announces intention to close its Polystyrene site in Carrington, UK

Fribourg, Switzerland, NOVA Innovene announced today its intention to close its Carrington, UK, site in October 2006. The plant has solid polystyrene production capacity of 180 kilotonnes per year and currently employs 82 people.
“We have significant overcapacity in our PS business” said Martin Pugh, Managing Director of NOVA Innovene. “This, combined with significant feedstock volatility, has depressed margins, making our PS business unprofitable. In making this change, we intend to address our overcapacity and improve our cost structure, a key objective for NOVA Innovene.”

2006/9/8 Platts

Nova still weighing options for Styrenix unit: spokeswoman

A Nova Chemicals' spokeswoman said Thursday the company was still studying various options regarding the future of its Styrenix business unit, but did not deny that a sale or joint venture agreement was being considered.

In the news articles, Credit Suisse analyst William Young was cited as saying that Nova likely will receive $500 million for the sale of the Styrenix business. That figure is a fraction of the purported value of the Styrenix asset, market sources said. Young would not comment on any aspect of the story when contacted by Platts on Thursday.

2007/3/23

NOVA Chemicals、北米のSM、PS事業をINEOSとのJVに移管

NOVA ChemicalsとINEOS は22日、NOVAの北米のＳＭ、ＰＳ事業を両社の欧州の50/50ＪＶのNOVA Innovene に移管することで合意したと発表した。今後手続きを経て、第３四半期に拡大JVが発足する。

移管するのはNOVAの子会社STYRENIXで、テキサスとカナダのオンタリオにあるSM事業、米国とカナダのPS事業のほか、PS系のポリマー、NAS（R)（Styrene Methylmethacrylate copolymer)、ZYLAR（R)（NASの 耐衝撃性改質グレード）、DYLARK（R)（ スチレン-無水マレイン酸共重合体）を含む。

NOVAのCEOは「米国のスチレン業界は設備を廃棄し、統合を検討し、赤字垂れ流しを止めるために動き出す必要がある」と述べており、2006年1月にはバージニア州のチェサピーク工場を閉鎖すると発表し、6月にStyrenix事業部を別会社にすると発表した。

NOVAは事業を「エチレン & ＰＥ」、「発泡PS & 機能製品」、及び「Styrenix」の３つに区分しているが、Styrenixはコア事業ではなく、将来、売却するか、スピンオフすると見られていた。
　　2006/7/27　「欧米でもＰＳ事業は苦境」　

今回の移管により新しいNOVA Innovene の北米、欧州、全世界でのシェアは以下の通りとなる。

INEOSは欧州のSM事業を、NOVAは北米の発泡PS事業を、JVには出さず自社で運営する。

NOVA Innoveneは2005年にNOVAが欧州のPS事業を出してBPとの50/50JVとして設立した。その後、BPが分離したInnoveneをIneosが買収した。

March 22, 2007 Nova Chemicals

NOVA Chemicals announces plan to expand joint venture with INEOS to North America

NOVA Chemicals Corporation today announced it has signed a letter of intent with INEOS to expand the two companies' existing European joint venture to include North American assets. Under the terms of the proposed agreement, the newly expanded 50:50 joint venture will include NOVA Chemicals' STYRENIX unit and other styrenic polymer assets. The STYRENIX unit includes NOVA Chemicals' North American styrene and solid polystyrene assets, as well as the company's interest in the existing European joint venture with INEOS, called NOVA Innovene. INEOS will contribute its North American styrene and polystyrene assets, as well as its interest in the existing NOVA Innovene European joint venture.

The expanded joint venture will also include solid polystyrene-based NAS^®, ZYLAR^® and DYLARK^® polymers from NOVA Chemicals and the AVANTRA^® specialty products of INEOS.

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March　22 2007　INEOS

INEOS announces expansion of styrenics joint venture with NOVA Chemicals

INEOS announced today that it has signed a letter of intent with NOVA Chemicals Corporation to expand on the parties' existing styrenics European joint venture so as to include North American assets of both companies. Under the terms of the proposed agreement, INEOS will contribute its North American styrene and polystyrene assets and NOVA Chemicals will contribute its STYRENIX unit and other styrenics polymer assets to a 50:50 joint venture arrangement. The STYRENIX unit includes NOVA Chemicals North American styrene and solid polystyrene assets.

INEOS will retain full ownership of its styrene business in Europe with a styrene manufacturing plant in Marl, Germany.

2007/4/13 Canadian Press

Nova Chemicals envisions big expansion of Alberta petrochemical industry

Nova Chemicals said Thursday it plans to build a world-class polyethylene plant in Alberta by the end of the decade, pending approval of an associated ethane extraction plant.

The petrochemical facility would produce up to 800 million pounds of polyethylene a year, using feedstock from gas processor Aux Sable Canada Ltd.'s planned ethane plant in Fort Saskatchewan. "If we're going to make full use of it, we're going to have to build a polyethylene plant here," CEO Jeff Lipton said at Nova's annual meeting in Calgary. Lipton would not speculate on costs.

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March 21, 2007 NOVA Chemicals

NOVA Chemicals and Aux Sable reach agreement on Alberta ethane extraction plant

NOVA Chemicals Corporation (“NOVA Chemicals”) today announced that the company has signed a letter of intent with Aux Sable Canada Ltd. (“ASC”) to develop an ethane extraction plant in Fort Saskatchewan, Alberta that would process natural gas from the Alliance Pipeline. ASC and NOVA Chemicals will work together to develop the project, which will be owned and operated by ASC and is expected to begin operating in mid-2010.
The extraction plant will have the capacity to process as much as 1.2 billion cubic feet of natural gas per day and will produce approximately 40,000 barrels per day of ethane. The extraction plant will be located on land owned by ASC in Fort Saskatchewan, adjacent to the site of ASC’s Heartland Offgas Plant. Ethane will be delivered via pipeline to NOVA Chemicals’ Joffre, Alberta, petrochemical complex for use as a feedstock in the production of ethylene.

ASC and its U.S. affiliate, Aux Sable Liquid Products L.P. (“Aux Sable”), are owned by Enbridge Inc. (ENB), Fort Chicago Energy Partners L.P. (FCE-UN) and Williams (WMB). Aux Sable intends to leverage its position as a significant player in the natural gas processing and natural gas liquids businesses through fee-based infrastructure investments. ASC is headquartered in Calgary, Alberta.

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Aux Sable Liquid Products 　　　http://www.auxsable.com/

Aux Sable Liquid Products is a US$400 million (C$550 million), world-scale natural gas liquids (NGL) extraction and fractionation facility constructed to initially process up to 2.1 billion cubic feet of natural gas per day. It is designed to initially recover 70,000 barrels per day of NGL (ethane, propane, normal butane, iso-butane and natural gasoline).

Aux Sable is the largest facility of its kind in the U.S. It has become a significant propane supplier for the Midwest, particularly for the state of Illinois. The facilities are connected with existing product pipelines that also make NGL available elsewhere in the United States and Canada.

July 23, 2007 Nova

NOVA Chemicals and Williams announce letter of intent for project to extract ethane from Alberta oil sands

NOVA Chemicals Corporation today announced it has reached an agreement with Williams to evaluate processing current and future off-gas streams from the Alberta oil sands to extract ethane. This feedstock would be delivered to NOVA Chemicals' Joffre, Alberta, manufacturing facility, utilizing the existing Joffre Feedstock Pipeline.

September 10, 2007

INEOS NOVA joint venture approved by Federal Trade Commission

NOVA Chemicals Corporation today announced that the U.S. Federal Trade Commission has approved the previously announced INEOS NOVA joint venture. The joint venture is expected to commence operations on October 1, 2007.

　　INEOS NOVA Joint Venture http://www.novachem.com/investorcenter/docs/INEOS_NCX_ConfCall_09_19_07.pdf

September 18, 2007

INEOS NOVA joint venture will acquire rights to Sterling styrene production

NOVA Chemicals Corporation today announced that it has secured exclusive rights to the styrene production from Sterling Chemicals Inc.'s Texas City, Texas, manufacturing facility on behalf of its pending joint venture with INEOS. The INEOS NOVA joint venture has received U.S. regulatory approval and will be assigned the rights when the joint venture is operational, which is expected to be October 1, 2007. The $60 million cost of the transaction will be fully funded by the INEOS NOVA joint venture from cash on hand.

Sterling's Texas City facility has 1.7 billion pounds of annual styrene production capacity, which represents approximately 11% of North American capacity and 3% of global capacity.

SEPTEMBER 18, 2007

STERLING CHEMICALS ANNOUNCES LONG-TERM STYRENE SUPPLY AGREEMENT

Under these agreements, Nova will have the exclusive right to the entire production capacity of Sterling’s Texas City, Texas styrene plant, the amount of any styrene supplied being at Nova’s option based on a full-cost formula, and will purchase Sterling’s styrene monomer rail car fleet. In exchange, Nova has agreed to pay Sterling $60 million within ten business days after the agreements become effective. Alternatively, if the FTC does not approve the supply agreement, Nova will be required to pay Sterling a break-up fee of $6 million.
Sterling Chemicals, Inc. is a leading North American producer of selected petrochemicals used to manufacture a wide array of consumer goods and industrial products throughout the world. Its primary products are
　acetic acid 　Percent of Total North American Capacity 17% North American Market Position by Capacity 3
　styrene 　　Percent of Total North American Capacity 11%　North American Market Position by Capacity 4
　and plasticizers.Percent of Total North American Capacity 9%　North American Market Position By Capacity 3

Platts 2007/9/17

Nova to shut Sterling's 1.7B lbs/yr SM unit at Texas City, TX

Following its announcement to acquire Sterling's 1.7 billion lbs/year styrene monomer asset at Texas City, Texas, Nova Chemicals President and Chief Executive Officer Jeff Lipton said Wednesday that it intended to close the facility and shift production to more efficient sites.

After the shutdown of Sterling, operational rates will be much stronger -- an estimated 91%, up 3% from previous levels, he explained. In addition,

October 10, 2007 Nova Chemicals

INEOS NOVA announces Montréal polystyrene production to shut down

INEOS NOVA announced today that it plans to shut down its Montréal, PQ polystyrene production by the end of 2007. The site has annual production capacity of 120 million pounds (55 kilotons) of polystyrene.

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Platts 2007/10/10

Market eyes more PS closures after Ineos Nova's Montreal decision

During an analyst call September 19, Nova President and CEO Jeff Lipton said, "We expect the (Ineos Nova) JV to take out another 300 to 400 million pounds of solid polystyrene capacity and to have a significant impact on that part of the business, and, as you know, we are not alone. We think the Dow-Chevron Phillips JV, which the FTC has now stated they have no objection to, will follow our start-up quickly. While the partners have not made any specific statements about their plans, we expect to see more consolidation as part of their cost reduction efforts."

One producer Wednesday added, "The market is just consolidating in light of shrinking demand for PS and poor profitability...This will help them streamline. Will be interesting to see what Dow/Chevron will do."

Platts 2007/11/29

Ineos Nova to shut US polystyrene facility at Belpre, Ohio

UK-Canada styrenics joint venture Ineos Nova plans to permanently shut down its US polystyrene facility at Belpre, Ohio, by January 31, 2008, the company announced Thursday.

The site has production capacity of 220 million lbs/year (100,320 mt/year) of crystal polystyrene.

January 9, 2008 NOVA Chemicals

NOVA Chemicals announces plans for Ontario polyethylene asset modernization and expansion

NOVA Chemicals Corporation today announced plans for a series of polyethylene plant modernization and expansion projects in the Sarnia, Ontario, region. The projects will add a total of up to 250 million pounds per year of new polyethylene capacity in stages over the next two years.

"These projects should have about a two year pay-back and will generate meaningful earnings growth for our shareholders in every part of the industry business cycle," said Jeffrey M. Lipton, Chief Executive Officer. "The upgrades include technology that will enable us to produce higher value products that our customers are hungry for."

The projects include:
・Upgrading products, improving reliability and expanding the low density polyethylene unit at Mooretown, Ontario
・Optimizing the high density polyethylene unit at Mooretown to increase throughput rates and improve product quality
・Debottlenecking high density polyethylene and linear low density polyethylene production at the St. Clair River site at Corunna, Ontario

The projects are now feasible because the Corunna flexi-cracker modernization completed in 2007 has successfully delivered: greater ethylene capacity, increased energy efficiency, improved plant reliability and global cost competitiveness. The total cost of the projects will be approximately $80 million, which will not result in a material change in the company’s overall capital program. The projects will require appropriate Board of Directors approvals as they proceed.

NOVA Chemicals Announces Memorandum of Understanding with Statoil for Ethane Supply from Marcellus Shale

NOVA Chemicals Corporation (NOVA Chemicals) today announced that it signed a memorandum of understanding with Statoil Marketing and Trading Inc. (Statoil) for a long-term supply of ethane from the Marcellus Shale Basin. 

“We are very pleased to be working with Statoil for the supply of additional ethane to our Corunna, Ontario cracker.  Their supply will help to diversify our supply base for our Corunna cracker revamp project and support our growth plans in the future,” said Randy Woelfel, Chief Executive Officer.

“Statoil is pleased to have reached a framework agreement with NOVA Chemicals for the sale of ethane from the Marcellus Shale Basin. Statoil has over the years had other supply agreements with NOVA Chemicals and looks forward to furthering this commercial relationship,” said Martin Jones – President of Statoil Marketing and Trading (US) Inc.

In addition to finalizing a definitive purchase and sale agreement with Statoil, and customary reviews and approvals, the arrangement is subject to NOVA Chemicals concluding a pipeline transportation agreement to transport ethane from the Marcellus Shale Basin into the Sarnia, Ontario petrochemical market.

2012/5/10 Nova Chemicals　　　    売却取り止め

NOVA Chemicals and PFB Corporation sign letter of intent for acquisition of NOVA Chemicals’ Performance Styrenics business

NOVA Chemicals Corporation and PFB Corporation, announced today that they have signed a letter of intent for PFB, through its subsidiary PFB International Corporation, to acquire NOVA Chemicals Performance Styrenics business, including the expandable polystyrene (EPS) and ARCEL® resin products. NOVA Chemicals will acquire an equity stake in PFB and hold two seats on PFBs Board of Directors following closing. In addition, at closing, Robert Snyder, Vice President, Performance Styrenics for NOVA Chemicals will join PFB as Chief Operating Officer, PFB International Corporation.

NovaとIneos は2007年3月に、Novaの北米のSM、PS事業を両社の欧州の50/50ＪＶのNOVA Innovene に移管することで合意し、新しいJV、Ineos Novaが2007年10月に発足した。 2007/9/24 　INEOS NOVA スタートへ Nova Chemicalsは2010年11月12日の第3四半期決算発表で、Ineosとの間で、両社の50/50JVであるIneos NovaのNova持分をIneosに売却する交渉に入ったことを明らかにした。 新株主の IPICの方針変更と思われる。 2010/11/22 　Nova Chemicals、Ineos Novaから撤退 Nova Chemicalsの現在の事業は以下の通り。（単位：千トン） 　 エチレン PE SM　　 スチレン ポリマー 　 Corunna, Ontario 820 　 　 　 　 Joffre, Alberta 1,545 910 　　　 　 　 635 (1,270) 190 (380) 　 　 Nova/Dowの50/50JV 上はNova持分、( 　)はJV合計能力　 Moore Township, Ontario 　 340 　 　 　 St. Clair River, Ontario 　 205 　 　 　 Channelview, Texas 　 　 180 　 Lyondell Chemical のSM工場のNova持分 他に短期の製造委託180がある。 Monaca, Pennsylvania 　 　 　 155 Styrenic Performance Polymers含む Painesville, Ohio 　 　 　 45 　 Quilicura, Chile 　 　 　 3 　 El Tepual, Chile 　 　 　 Converter 　 　 　 　 　 　 　 Total 3,000 1,645 180 203 　 スチレン、スチレンポリマーはIneosNovaに供出していないもの。 スチレンポリマーはEPSが中心だが、下記の特殊品を含む。 　 ARCEL樹脂（PS/EVA）、DYLARK、UPESレジン

NOVA Chemicals and PFB expect definitive agreements to be executed during the second quarter, and closing to occur during the second half of 2012. The acquisition is subject to the definitive agreement being entered into, regulatory approval, and other customary conditions, including NOVA Chemicals Board of Directors approval, and PFBs Board of Directors and shareholder approval

We are extremely excited to have NOVA Chemicals experience and quality EPS resins become a part of our business. NOVA Chemicals has long been a leading North American producer of moldable foam resins with a diverse product portfolio serving the construction, packaging, and global cup and container markets. Together we have the opportunity to better serve customers - providing outstanding products to the market, commented C. Alan Smith, CEO of PFB.

The acquisition of NOVA Chemicals Performance Styrenics business by PFB International Corporation will underpin a vertically-integrated, construction materials focused product offering in the United States that parallels the Plasti-Fab Canadian operations. Bruce Carruthers, Chief Operating Officer of Plasti-Fab, stated, With the world now focusing on sustainable building products, it is the time for our industry to provide vertically-integrated EPS product solutions that provide environmentally friendly alternatives to the construction industry. This is our mission.

We are excited about the combined companys dedicated focus on the growth and development of EPS resins, and their use in building insulation, protective packaging, and cup and container applications, said Robert Snyder, Vice President, Performance Styrenics for NOVA Chemicals.

About NOVA Chemicals

NOVA Chemicals develops and manufactures chemicals, plastic resins and end-products that make everyday life safer, healthier and easier. Our employees work to ensure health, safety, security and environmental stewardship through our commitment to sustainability and Responsible Care®. NOVA Chemicals, headquartered in Calgary, Alberta, Canada, is a wholly owned subsidiary of the International Petroleum Investment Company (IPIC) of the Emirate of Abu Dhabi, United Arab Emirates.

About PFB Corporation

PFB Corporation controls two operating subsidiaries, Plasti-Fab Ltd. that operates in Canada and PFB America Corporation that operates in the United States. The group is vertically integrated in manufacturing insulating building products that are marketed across North America under five brands. Plasti-Fab, EPS Product Solutions® are products, manufactured using expanded polystyrene (EPS) as base raw materials, that are delivered to customers in five segmented markets. Advantage ICF Systems® are insulating concrete forming systems that are employed to build insulated foundations and walls from concrete in both residential and commercial markets. Insulspan® Structural Insulating Panels Systems (SIPS) are used to create a high performance, energy-efficient structural envelope. Precision Craft® and Riverbend® Timber Framing manufactures timber frame and log structures that are designed by Mountain Architects LLC, and installed by PC Design Build LLC.that combine our vertically integrated products.

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2012/11/16  Nova

NOVA Chemicals and PFB Corporation terminate letter of intent for acquisition of NOVA Chemicals’ Performance Styrenics business

NOVA Chemicals Corporation announced today that it and PFB Corporation mutually agreed to terminate their letter of intent for PFB to acquire NOVA Chemicals’ Performance Styrenics business.

NOVA Chemicals will retain and continue to operate its Performance Styrenics business, which includes its expandable polystyrene and ARCEL® resin products.

It had become apparent to both NOVA Chemicals and PFB that PFB would be unable to complete certain steps necessary to consummate its planned expansion of PFB’s vertically integrated, construction materials focused products offering in the United States. As a result, both parties decided to terminate the letter of intent.

“We are disappointed that this transaction with PFB was not successful, but will move forward, focusing on performance and continuous improvement for the Performance Styrenics business,” stated Randy Woelfel, CEO, NOVA Chemicals.

June 11, 2013   NOVA Chemicals

NOVA Chemicals Officially Begins Alberta Polyethylene Expansion Project

NOVA Chemicals Corporation held a ground-breaking celebration on Friday, June 7, 2013 to celebrate a growth milestone at its Joffre, Alberta complex. This event marked the official start of the construction phase of the Polyethylene 1  Expansion Project – a key component of the NOVA 2020 growth strategy of adding value to emerging cost-competitive feedstocks and to support growing North American polyethylene demand.
The PE1 Expansion Project at the Joffre, Alberta Site will include a world-scale polyethylene reactor (R3) and associated infrastructure. The project is designed to produce between 950 and 1,100 million pounds per year of linear-low density polyethylene (“LLDPE”), enabling the company to increase polyethylene production at the site by approximately 40% to meet growing customer needs.

The project is expected to be commissioned in the fall of 2015 and is expected to cost approximately $1 billion including capital and startup costs.

Polyethylene 1 Expansion Project

Currently, PE1 has two identical polyethylene reactors referred to as production “trains”. R3 has been designed to produce between 950 to 1,100 million pounds of Linear Low Density Polyethylene (LLDPE). This will be an approximate 40% increase in our overall site polyethylene capacity and will use existing Joffre Site ethylene capacity.

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At our Joffre site we produce ethylene and polyethylene. Each year our three ethylene facilities produce more than six billion pounds of ethylene and the two polyethylene facilities produce more than two billion pounds of polyethylene. 

 

Every year, we ship our polyethylene resins to customers around the world who use them as the building blocks for countless consumer products that enhance the quality and convenience of daily life. Co-products result from the production of our primary products (ethylene and polyethylene) and Innovene produces Linear Alpha Olefins right here on site.

From humble beginnings in 1979 with the start-up of the first ethylene facility (called Ethylene 1), production and site facilities have grown along with the worlds' demand for our products.

Manufacturing facilities (E1, E2, E3 and Polyethylene 1, PE2), together with a massive supporting infrastructure (feedstock/product pipelines, water treatment, rail storage/handling, cogeneration power plant) result in a large-scale, integrated petrochemical complex.

E1

1988 Debottlenecked E1 to increase capacity from 1.2 to 1.4 billion pounds
1993 Debottlenecked E1 to increase capacity to 1,542.2 million pounds/year.

E2

1984 E2 brought into operation on June 29
1987 Debottlenecked E2 to increase capacity from 1.5 to 1.7 billion pounds

E3

2001 E3 officially  achieves commercial operations in July, demonstrating operation at an average of 100% of
nameplate over three months
Production capacity 2.8B pounds / 1.3M metric tonnes per year.

PE1

1984 PE1 started up on June 22
1988 Debottlenecked PE1 to increase capacity from 600 to 850 million pounds
1992 PE1 increased nameplate capacity to one billion pounds per year.
1994 Polyethylene increased nameplate capacity to 1.2 billion pounds/year.

PE2

2001 PE2 achieves initial start-up in April, successfully producing polymer product.
Production capacity is 950 M pounds / 430,000 metric tonnes per year (all sold in a pelleted form).

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Sarnia-Lambton Plant Facilities​

Corunna, our largest site, is capable of producing in excess of 3 billion pounds of petrochemicals annually. Originally devoted entirely to processing crude-oil-based liquids, the facility now has the flexibility to process a much broader variety of feedstocks, producing a full range of primary petrochemicals.

Crude oil, condensate and natural gas liquids are delivered to the site by pipeline for processing. Co-products are derived during petrochemical production at the site, including synthetic natural gas, gasoline components, diesel fuel and home heating oil. Another co-product, heavy residual fuel oil, is sold as industrial fuel.

The resin from both Mooretown and St. Clair River polyethylene sites is transported to end-product manufacturers via rail and truck in the form of small pellets. End-products produced from our polyethylene resin include grocery bags, film wrap, household bottles and foam for packaging. 

 

Corunna Site - Corunna, Ontario

Corunna also produces a variety of specialty chemicals for the North American market. These include products for the rubber and hydrocarbon resin industries, as well as resin oils used in the manufacture of printing inks and adhesives.

The Corunna site processes crude oil, condensate and natural gas liquids (NGLs) that are delivered to the site by pipeline from western Canada. These products are the feedstocks used to manufacture ethylene, propylene, butadiene, iso-butylene, n-butylene, benzene, toluene and xylene.

 

Moore Site - Mooretown, Ontario

Moore Site converts ethylene, supplied by Corunna, to manufacture both low-density and high-density polyethylene resins.
about 840 million pounds of polyethylene per year.

 

St. Clair River Site - Corunna, Ontario

The St. Clair River polyethylene facility is also home to NOVA Chemicals' SCLAIRTECH™ polyethylene licensing and international ventures business. SCLAIRTECH technology is used to manufacture high-density and linear-low-density polyethylene resin.
Annual production capacity at St. Clair is 395 million pounds (180 kilotonnes) of polyethylene.

　

December 18, 2013　

NOVA Chemicals announces plans for multiple projects in Sarnia region
　　- Company will continue to evaluate options for a second Advanced SCLAIRTECH technology facility

​NOVA Chemicals Corporation today announced its decision to move forward with the second phase of its NOVA 2020 growth strategy in Ontario, Canada, and to continue to evaluate options for a second Advanced SCLAIRTECHTM technology (AST) facility.

This next phase of the NOVA 2020 growth strategy, anticipated to take place over the 2014 to 2018 timeframe, will concentrate on several cost-effective expansions and upgrades to NOVA Chemicals’ existing facilities in the Sarnia, ON region, including:

· Expanding the Corunna cracker ethylene manufacturing capacity by approximately 20%;
· Pursuing a debottleneck at the Moore low-density polyethylene (PE) line; and
· Pursuing a retrofit of the Moore high-density PE line.

These projects are intended to build on the impact of the Corunna cracker conversion to utilize up to 100% natural gas liquids (NGLs) to enhance NOVA Chemicals’ capabilities to meet growing and more sophisticated customer demands.

During this period, NOVA Chemicals will continue to investigate options for a second AST facility, which could be located in Ontario, the U.S. Gulf Coast or elsewhere in the world, and which would be implemented in the final phase of the NOVA 2020 growth strategy.

“We are excited to move forward with the next phase of growth for our Eastern Canadian Olefins and PE assets, building on the imminent completion of our Corunna feedstock conversion project. In parallel with the planned implementation of these projects, which could represent investment exceeding $300 million, we will continue to investigate options for a second AST facility,” stated NOVA Chemicals CEO Randy Woelfel. “We believe phasing of implementation of the NOVA 2020 projects is the optimal path forward to maintain NOVA Chemicals’ financial strength and optionality while recognizing the market challenges for project implementation.”

Work continues to progress on other projects within the first phase of the NOVA 2020 portfolio, including:
· Revamping the Corunna, Ontario cracker facility to utilize cost-competitive NGL feedstocks with project completion targeted for Q1 2014. Ethane from the Marcellus Shale Basin is currently accumulating in local Sarnia storage for introduction as a Corunna feedstock shortly; and
· Building a world-scale gas-phase PE reactor at the Joffre, Alberta facility, to provide customers with a complete set of LLDPE offerings, which is expected to be mechanically complete in Q1 2016.

About NOVA 2020

NOVA 2020 is NOVA Chemicals long-term asset strategy to capitalize on emerging feedstock opportunities and growing North American demand.

NOVA 2020 lays out the strategic direction and vision of our organization. As we evolve our asset base to support leadership in the markets we serve, this endeavor will not only help deliver more capacity to our customers, but also maximize the value generated by our business.

Corunna, Ontario – Eastern Canada
In 2011, NOVA Chemicals began a project to switch our Corunna, Ontario site from consuming a mix of heavy and light feed to utilizing up to 100% natural gas liquid (NGL) feedstock.
We expect to begin consuming ethane from the Marcellus Shale basin beginning in Q3 2013, with completion of the project in early 2014.

Joffre, Alberta – Western Canada
NOVA Chemicals is expanding our PE1 facility to have a third gas-phase reactor and associated equipment. This world-scale reactor allows us to bring additional value to our customers – providing more linear-low density polyethylene (NOVAPOL® resins) to the marketplace to meet the growing demand for products such as: trashbags, heavy duty sack, etc.
We expect to commission and start-up the new unit in the fall of 2015.
 
Advanced SCLAIRTECH™ Technology Facility Update
We have decided to move forward with the second phase of our announced NOVA 2020 slate of projects in Ontario, while continuing to evaluate options for a second Advanced SCLAIRTECH™ technology (AST) facility, which could be located in Ontario, the U.S. Gulf Coast or elsewhere in the world. We will first invest in smaller, more cost-effective projects, allowing us to better manage cash flow, move beyond the construction peak and further develop our technologies, solidifying our commitment to investing and working in the Sarnia, Ontario region.

January 16, 2014　NOVA Chemicals　

NOVA Chemicals announces utilization of Marcellus Shale sourced ethane at its Ontario cracker

NOVA Chemicals Corporation today celebrated its commitment to the Sarnia, Ontario region during a ceremony to commemorate the first barrels of ethane sourced from the Marcellus Shale Basin being utilized at its Corunna, Ontario cracker.

NOVA Chemicals began consuming this new feedstock in late December 2013 as part of a project to revamp its Corunna, Ontario cracker to utilize up to 100% natural gas liquid feedstock in line with its strategy to ensure the long-term economic viability of its Ontario assets.

ポリエチレン拡大計画NOVA 2020

計画では、JoffreとMooreにそれぞれポリエチレン工場を建設する。更にMoore工場の既存プラントのデボトルネッキングを検討する。
Mooreの新工場は、同社が開発したポリエチレン技術 Advanced SCLAIRTECH 法を使用する第二のワールドクラスのプラントとなる。

原料のエチレンについては、既存のJoffreのエチレン利用増とCorunna のエチレンの増強で賄う。
エチレンの生産増には、シェールオイル・ガス、オイルサンドからのオフガスや、既存のエタンなど、多様化した原料ソースを使用する。
Corunnaのエチレンは原料を天然ガス100%利用できるよう改造する。2013年第3四半期からはMarcellus Shaleのエタンの使用を開始する。

2013/6/14　カナダのNOVA Chemicals、ポリエチレン拡大計画NOVA 2020 をスタート　

June 13, 2014

NOVA Chemicals announces first utilization of ethane supplied from Bakken Shale

NOVA Chemicals Corporation today announced that the first barrels of ethane supplied from natural gas associated with oil production from Bakken Shale are being utilized at its Joffre, Alberta complex.

The ethane was produced at Hess Corporation’s Tioga, North Dakota plant and transported across the border into Alberta via the Vantage Pipeline. The Vantage Pipeline connects to the Alberta Ethane Gathering System (AEGS) in Empress, Alberta for the final journey to Joffre. NOVA Chemicals is the contract operator of both AEGS and the Vantage Pipeline.

The Vantage Pipeline has an initial design capacity of 40,000 bpd but is expandable to greater than 60,000 bpd, a volume that reflects more than 20% of Alberta’s existing installed ethylene production capacity. Ethane extracted from associated gas produced from Bakken Shale is expected to be a growing and stable feedstock supply source for the Alberta petrochemical industry.

“The introduction of Bakken Shale-based ethane into the feedstock diet at Joffre marks an important milestone in the diversification of our ethane sources for the region and our NOVA 2020 strategy to capitalize on North American demand,” stated Todd Karran, NOVA Chemicals Acting CEO and CFO. “The new supply sources we recently began to use, together with those currently in development, should enable us to run our existing polyethylene plants at full capacity, as well as support our PE1 Expansion project in Joffre and position us well for potential further growth.”

The Vantage Pipeline is a high vapour pressure (HVP) pipeline carrying ethane from a source near Tioga, North Dakota, U.S.A., extending northwest, through Saskatchewan, Canada, and terminating near Empress, Alberta, Canada. The pipeline links a growing supply of ethane from North Dakota to markets in Alberta.
The Vantage Pipeline is 712 km long (445 miles) steel pipeline, with an outside diameter of 273 mm (10 inch).

The Alberta Ethane Gathering System ("AEGS") is the exclusive long-distance transporter of pure or "specification" ethane in Alberta and, as such, fully integrates Alberta's world scale petrochemical industry with the province's major natural gas liquids extraction facilities.

AEGS is the only pipeline system that transports specification ethane to Alberta’s petrochemical complexes at Joffre and Fort Saskatchewan, which are among the largest petrochemical plants in the world.

AEGS is comprised of several integrated pipeline legs that currently span the southern and central portions of Alberta, areas that funnel the flow of virtually all of Alberta's natural gas production. The AEGS network is currently 1,330km in total length and has an approximate aggregate design capability of 330,000 barrels per day. Through this pipeline network, AEGS delivers substantively all of the specification ethane feedstock requirements for NOVA Chemicals' petrochemical complex near Joffre, Alberta, as well as a majority of Dow Chemical's specification ethane feedstock requirements at Fort Saskatchewan and Joffre, Alberta. AEGS is also connected to a large underground storage facility near Fort Saskatchewan, Alberta.

The AEGS system, as shown on the following map, consists of three legs:
(i) the East Leg which extends from ethane extraction plants near Empress to Joffre;
(ii) the West Leg which extends from near Waterton through Cochrane to Joffre; and
(iii) the North Leg which extends from Joffre past Edmonton to Fort Saskatchewan.

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May 19, 2014

Hess Corporation, North Dakota Officials Gather to Celebrate Expansion of Tioga Gas Plant

Hess Corporation was joined today by Governor Jack Dalrymple, Senator John Hoeven and a host of other government officials to commemorate the recently completed expansion of the Tioga Gas Plant, which more than doubles the operational capacity of the facility.

The project is part of a more than $1.5 billion infrastructure investment made by Hess between 2012 and 2014 in North Dakota that has significantly increased production of propane, methane, butane and natural gasoline, and of ethane, a vital industrial product never before produced in the state. The expansion also brings a substantial improvement in efficiency and significantly reduces the amount of natural gas flared at Hess’s operations, from about 25 percent before the plant was shut down for the expansion project to 15 to 20 percent today.

“The Tioga Gas Plant was built in 1954, just three years after we drilled the very first oil well in the state of North Dakota,” said John Hess, Chief Executive Officer of Hess Corporation. “Today, as one of the largest oil and gas producers in the Bakken, we are committed to responsible long-term growth in North Dakota and proud to contribute to the state’s infrastructure.”

The plant is fully operational and is currently processing about 120 million standard cubic feet of gas per day (MMSCFD), with the expectation that through the combination of Hess and third-party gas it will soon process at least 250 MMSCFD with the potential to increase beyond 300 MMSCFD. Prior to expansion, the plant processed about 100 MMSCFD.

“North Dakota leads the oil and gas industry because it is an attractive place to invest, with strong public-private partnerships, responsible regulation and a firm commitment to work hand-in-hand with the business community,” Hess said. “Since 2010, we have invested more than $10 billion in North Dakota, we currently have a 17 rig drilling program with 2014 net production expected to average 80,000 to 90,000 barrels of oil equivalent per day, and are proud to contribute to the state’s economic success. I would like to personally thank Governor Dalrymple, Senators Hoeven and Heitkamp, Rep. Cramer, and the state regulatory agencies that made these investments possible.”

“I’m very excited about the opening of Hess Corporation’s expanded gas plant in Tioga,” Governor Jack Dalrymple said. “It means leadership for other companies that are taking advantage of the Bakken oil boom. It’s an example of what we need to see, which is more capturing of natural gas and more added value to the product. We are very grateful to Hess for showing the way.”

“We appreciate the tremendous investment Hess is making in North Dakota, which amounts to $1.5 billion not only for this expansion, but also for four new gas gathering projects the company expects to complete by the end of the year,” U.S. Senator John Hoeven said. “This new expansion more than doubles the plant’s capacity to produce natural gas, more than triples the amount of propane available to North Dakota and the region, and at the same time significantly reduces flaring in the oil patch. That’s a huge win for our state and our country.”

“Hess has a long history in North Dakota, and it’s great news the company is continuing to invest in our state and build on its current facilities,” said U.S. Senator Heidi Heitkamp. “With natural gas, North Dakota has an excellent opportunity to greatly expand its already incredible energy production and move toward fully using our vast natural resources. To make this a reality, we need to make significant infrastructure investments, which is why the Tioga Gas Plant expansion is so important. For years, we have wasted valuable natural gas through flaring, but with critical investments in processing capacity, like we are celebrating today, we can move closer toward energy independence.”

“The legacy of Hess in North Dakota is inseparable from the story of our booming economy. This expansion grows our portfolio of hydrocarbon and natural gas exports while reducing flaring, continuing their rich tradition of responsibly developing our state’s energy capabilities,” said Congressman Kevin Cramer.

Hess Corporation has a world-class acreage position, with 640,000 net acres in the Bakken. The company’s full year 2014 production forecast for the Bakken is 80,000 to 90,000 barrels of oil equivalent per day. The gas plant expansion, as well as other recent infrastructure improvements made in North Dakota, is part of the company’s growth strategy.

“As a leading operator in one of the best shale plays in the world, the Bakken will be the single biggest contributor to our production growth over the next five years,” said Greg Hill, President and Chief Operating Officer of Exploration and Production for Hess. “We expect that by 2018, we’ll be producing 150,000 barrels of oil equivalent per day from the Bakken.”

Hill was proud to credit employees for the successful expansion project. “Our successes here are made possible by the incredibly talented employees and contractors we have in place, who have worked tirelessly to bring this plant online safely,” Hill said.

At the peak of plant expansion, there were about 1,400 people working at the site, with more than 5 million total man-hours accumulated over about a 2 1/2 year period. During the final 9 months to complete the project and commission the plant, these crews worked 2.3 million man hours without a single recordable injury.
　

March 27, 2017

NOVA Chemicals and Borealis enter Preliminary Agreement with Total to meet growing global demand for polyethylene

NOVA Chemicals Corporation  and Borealis AG signed a preliminary agreement to form a joint venture (JV) with Total Petrochemicals and Refining USA, Inc.  that will develop and own a new light feed cracker and a new Borstar® polyethylene (PE) facility in Bayport, Texas.

Key aspects of the JV will include:
  Building a new 2.2 b lb (1000 ktpa) ethylene cracker in Port Arthur, Texas
  Building a new 1.35 b lb (625 ktpa) Borstar PE plant in Bayport, Texas
  Total’s existing Bayport PE facility, total capacity 880 m lb (400 ktpa)

The ethylene cracker and Borstar PE unit are expected to start-up in late 2020. A final investment decision is expected in late 2017, pending NOVA Chemicals’ Board and regulatory approvals and execution of definitive agreements.

The JV is expected to create significant synergies by enabling strong integration of the value chain and the first-time use of the proprietary Borstar PE process technology in the Americas. It is also expected to provide competitive export access to markets outside of North America to help meet the growing global demand for PE.

“This opportunity will complement NOVA Chemicals’ existing asset structure in Canada and broaden our PE product slate as we continue to grow our business in the Americas to deliver products that make everyday life healthier, safer and easier,” stated Todd Karran, President and CEO, NOVA Chemicals. “It also paves the way for NOVA Chemicals to collaborate further with Borealis as part of the IPIC family of companies,” continued Karran.

“Working in a JV with NOVA Chemicals and Total on a cost effective brownfield investment project, integrated with a cracker is an attractive opportunity. We can also leverage our proven technology and benefit from large scale experience gained in other projects (e.g., Borouge) and develop the project together with NOVA Chemicals,” said Borealis CEO Mark Garrett.