INEOS remains committed to expansion of the Rafnes cracker and operations in Grenland

01-19-2009: INEOS has welcomed the revised plans for Norway’s Skanled project, to secure long-term deliveries of natural gas into the Grenland area of Norway via a spur from a pipeline linking Western Norway with Sweden and Denmark.

The company confirms that it remains committed to its expansion of the Rafnes cracker and the operations in Grenland as a means of adding significant value to Norwegian ethane, to create wealth and prosperity in Norway. It continues to provide its full support to the Skanled project and works towards its successful delivery, expected in 2012.

“This is an important outcome for Norway, Grenland and INEOS”, said Tom Crotty CEO INEOS Olefins & Polymers Europe. “We are pleased that the Skanled group have found a way forward to progress the project, to provide long-term gas supplies to Grenland.“

”Our long-term plan remains the expansion of the cracker at Rafnes, to produce a further 100,000 tonnes of ethylene in Norway, based on a feedstock combination of LPG and ethane. We are committed to our Norwegian facilities and the expansion of our operations. In particular, a first phase expansion of our ethylene cracker is planned at the appropriate time, when sufficient Norwegian ethane is available”.