Welcome Letter from our Co-Host Total
Total is delighted to be the host partner of 2018’s ERTC, GPS, and ERTC 4.0.
The refining and petrochemicals industry in Europe is evolving to answer many challenges it encounters: an uncertain environment for refining margins, increased competition from new US petrochemicals projects leveraging cheap and abundant feedstock, request from stakeholders for cleaner, energy-efficient and sustainable industries. ERTC is a fine platform to showcase our developments and address those growing issues.
Keeping the International Energy Agency’s (IEA) 2°C scenario in mind, Total has the ambition to become The responsible energy major, providing affordable, reliable and clean energy to its customers. Our Refining &Chemicals ambition goes hand in hand with this: Provide clean and affordable fuels and polymers.
The very first foundation on which our activities are built on is Safety, a core Group value which conditions any performing and sustainable activity. Starting from there, Total develops a strategy focusing on 3 key objectives: Enhancing industrial competitiveness, Expanding in petrochemicals and Innovating in low-carbon solutions.
Meeting these objectives requires initiatives adapted to different market conditions and environment.
In Europe, Total has been investing in a series of major modernization projects in our French and Belgian platforms, lowering break even points and strengthening resistance to bottom-of-the-cycle environment. Integration, feedstock flexibility and higher value-added products are keywords for these developments. A good example is our Carling platform (France), which has been completely reconfigured around specialty resins and high value-added polymers for the automotive industry. Another example is the conversion of the La Mède refinery towards biofuels production. Promising developments in digitization will support the next steps of performance enhancement.
In parallel, Total recently announced different growth projects in petrochemicals. The development in the USGC of an ethane cracker and a subsequent PE facility. Similarly, Total and Saudi Aramco have signed an agreement to build a multi-billion petrochemicals complex adjacent to their Satorp refinery in Jubaïl. In Daesan (South Korea), $1 B is invested in expanding the cracker and PE capacity. Other projects are actively considered, many of them being in Middle East and North Africa.
Those are amongst the numerous subjects we will have the pleasure to discuss together in Cannes.
Total looks forward to seeing you for what promises to be another excellent gathering of thought-leadership, innovation and in-depth discussions.
Senior Vice President Strategy, Development & Research, Refining & Chemicals, Total