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In Focus: Borealis acquires full ownership of NOVA Chemicals interest in Novealis JV
Report summary
Borealis recently announced that it has completed a move to acquire Nova Chemicals 50% share of the Novealis JV. Developed in 2018, Novealis went on to then develop a 50/50 JV with Total SA to form Baystar Polymers. This entity consists of an existing polyethylene plant and new ethane cracker and polyethylene plant in Port Arthur, Texas. Nova Chemicals Canadian and Geismar, Louisiana ethylene facilities and storage in Mont Belvieu, Texas are not part of the transaction. For Borealis, this represents a step forward on their global growth strategy from their largely European-based footprint. For further insight on ethylene assets around the world, navigate to the ethylene asset cost tool - The ethylene asset cost tool enables the user to view detailed asset level commercial information on the ethylene industry. It combines Wood Mackenzie's leading analysis from NGL, refining, coal and chemical services.
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