Braskem Idesa Sells 50% Stake in Ethane Import Terminal in Mexico

Written by Roberta Souza

Published on 15/06/2022 at 19:01

Foto de Alex Silva para Estadão/ Fonte: Seu Dinheiro

Seja o primeiro a reagir!

Braskem Idesa Signed Agreement with Advario B.V and Aims to Secure Ethane Imports from the Terminal

Braskem announced on Tuesday (the 14th) that Braskem Idesa (BI), its indirect subsidiary in Mexico, has reached an agreement with Advario B.V, a Dutch storage company, for the transfer of 50% of its shareholding in the Terminal Química Puerto México (TQPM), a BI subsidiary responsible for the development and operation of the ethane import terminal project in Mexico.

The petrochemical company reports that the operation is still subject to applicable approvals and that, when approved, Braskem Idesa and Advario will be responsible, each for 50% of the capital of TQPM. The transaction values have not been disclosed.

According to a statement sent to the Securities and Exchange Commission (CVM) by Braskem, Advario, a global leader in the storage sector based in the Netherlands, has expertise in designing, building, and operating storage and logistics infrastructure for liquid bulk products, such as petrochemicals and cryogenic gases, with a presence currently worldwide.

ARTICLE CONTINUES BELOW

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

The Technical Agenda and the Fair in the City of Macaé Should Boost Discussions on Investments, Energy Transition, and Development of the Oil, Gas, and Energy Chain in the National...

Paulo Nogueira

Terminal Operated by TQPM Will Have a Capacity of 80,000 Barrels Daily of Ethane

The terminal for ethane imports operated by TQPM will have a capacity of 80,000 barrels daily of ethane, ensuring that Braskem Idesa can meet all its raw material import needs.

In addition, Advario and Braskem Idesa are expected to invest 400 million dollars in the establishment of the import terminal, which will be located in the state of Veracruz, Mexico.

The construction of this project, which is crucial for ensuring the competitiveness of Braskem Idesa’s petrochemical complex, as it secures the supply of raw materials for the company, is set to begin in July, with an expected completion date at the end of 2024. The ethane import terminal will be linked to the BI complex through an 11-kilometer pipeline.

Project Will Enable Increased Availability of Ethane and Competitiveness of the Entire Petrochemical Industry in Mexico

In a statement, the companies declared that the project will provide the additional raw material that Braskem Idesa needs to operate at full capacity, increasing the availability of ethane and the competitiveness of the entire petrochemical and plastics industry in Mexico.

The agreement is being signed after a long period of uncertainty regarding the future of the petrochemical complex, in light of difficulties in the raw material supply.

Braskem Idesa began operations of what it calls “the largest petrochemical complex in Latin America,” focused on the production of ethylene and high and low-density polyethylene, in 2016, having invested the equivalent of 5.2 billion dollars.

At the time the agreement for the complex was signed, the selected raw material was natural gas supplied by the Mexican state-owned oil company Pemex; however, the company eventually faced conflicts with the joint venture due to the gas supply contract, which was resolved in September of last year.

About Braskem Idesa

Braskem Idesa is an association created in 2010, formed by Braskem, a leading petrochemical company in the Americas, which holds a 75% share in the agreement, and Grupo Idesa, one of the main business companies in Mexico, with a 25% share.

The partnership has led the development and implementation of a petrochemical complex in Mexico, aimed at producing polyethylene and located in the city of Coatzacoalcos, in the state of Veracruz.

Braskem Idesa Sells 50% Stake in Ethane Import Terminal in Mexico

Braskem Idesa Signed Agreement with Advario B.V and Aims to Secure Ethane Imports from the Terminal

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Terminal Operated by TQPM Will Have a Capacity of 80,000 Barrels Daily of Ethane

Project Will Enable Increased Availability of Ethane and Competitiveness of the Entire Petrochemical Industry in Mexico

About Braskem Idesa

China has been trying for 13 years to build a railway in the Gobi Desert to reach Mongolia, and there are still 20 kilometers left that no one can finish due to a problem that seems impossible to solve.

Archaeologists find an intact tomb over 2,500 years old, with more than 100 preserved objects, weapons, jewelry, and human remains never touched.

Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state wants to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.

Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.

Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state aims to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.

Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.

Government unlocks R$ 554 million for a highway that has been requested for decades and accelerates the duplication of BR.

Archaeologists find an intact tomb over 2,500 years old, with more than 100 preserved objects, weapons, jewelry, and human remains never touched.

You grew up hearing that the good coffee from Brazil goes all abroad and the bad coffee stays for Brazilians, but this story has completely changed, and the numbers show that in the 1980s, thirty percent of the coffee sold here was adulterated with corn and barley.

Volcanic lava transforms into threads as fine as human hair that travel over 30 kilometers by wind and fall like cutting rain on roofs and backyards in Hawaii and Iceland.

Engineer creates reforestation method that transforms small plots into dense forests in a few years using local biomass and can reduce environmental recovery costs.

Son of a seamstress from the rural area of Ceará who did not speak English wins a scholarship of over 2 million reais at Williams College, one of the top 10 universities in the United States, covering everything including dormitory, meals, and annual trips to Brazil.

Braskem Idesa Sells 50% Stake in Ethane Import Terminal in Mexico

Braskem Idesa Signed Agreement with Advario B.V and Aims to Secure Ethane Imports from the Terminal

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Terminal Operated by TQPM Will Have a Capacity of 80,000 Barrels Daily of Ethane

Project Will Enable Increased Availability of Ethane and Competitiveness of the Entire Petrochemical Industry in Mexico

About Braskem Idesa

China has been trying for 13 years to build a railway in the Gobi Desert to reach Mongolia, and there are still 20 kilometers left that no one can finish due to a problem that seems impossible to solve.

Archaeologists find an intact tomb over 2,500 years old, with more than 100 preserved objects, weapons, jewelry, and human remains never touched.

Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state wants to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.

Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.

Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state aims to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.

Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.

Government unlocks R$ 554 million for a highway that has been requested for decades and accelerates the duplication of BR.

São Paulo surprises the world with a colossal railway network project that promises over 1,000 km of tracks, R$ 194 billion in investments, and 40 projects connecting the capital to the interior with fast and sustainable trains.

Oncorp wins auction and enables biodiesel and gas thermal plants in Brazil, with strategic projects in Suape and Xavantes Aruanã.

The world’s largest escalator, measuring 905 meters in China, reduces urban travel time from 1 hour to about 20 minutes and transforms mobility in mountainous regions with an engineering solution adapted to the terrain.

A R$ 300 million logistics giant is taking shape in Serra with over 100,000 m² and raises a question: how can this transform e-commerce and distribution in the state?

Could Uber Rides Lose Minimum Fare? Understand What’s Happening!

Archaeologists find an intact tomb over 2,500 years old, with more than 100 preserved objects, weapons, jewelry, and human remains never touched.

You grew up hearing that the good coffee from Brazil goes all abroad and the bad coffee stays for Brazilians, but this story has completely changed, and the numbers show that in the 1980s, thirty percent of the coffee sold here was adulterated with corn and barley.

Volcanic lava transforms into threads as fine as human hair that travel over 30 kilometers by wind and fall like cutting rain on roofs and backyards in Hawaii and Iceland.

Engineer creates reforestation method that transforms small plots into dense forests in a few years using local biomass and can reduce environmental recovery costs.

Son of a seamstress from the rural area of Ceará who did not speak English wins a scholarship of over 2 million reais at Williams College, one of the top 10 universities in the United States, covering everything including dormitory, meals, and annual trips to Brazil.