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TotalEnergies Declares Styrene Force Majeure at Northern France Site — OPIS

TotalEnergies has declared a force majeure on styrene deliveries from its 200,000 b/d petrochemical plant at Gonfreville in northern France, multiple sources told OPIS this week.

Details on the cause and duration of the force majeure are unclear.

TotalEnergies declined to provide OPIS with further details, adding it does "not comment on operations."

However, OPIS understands from market feedback that the force majeure was declared towards the end of last week and is expected to be lifted around mid- to second half of April. TotalEnergies issued an earlier force majeure on styrene from Gonfreville in February that was lifted at the end of that month.

Styrene supplies in Europe are tightening, and sources suggested the force majeure was also contributing to a rise in spot prices for the aromatic in the region this month. Spot styrene prices for April delivery traded at $1,620/metric ton on April 2, market sources told OPIS at the time, but then rose steadily to average $1,800/mt as of April 10.

The 600,000 mt/year styrene monomer unit at Gonfreville, is Europe's second largest production facility of this aromatic. The same plant declared force majeure on toluene and xylene in March that was lifted on March 27.

Styrene is used to produce latex and polystyrene resins, which are in turn used to make many end-user products, including plastic packaging, insulation and synthetic rubber.


This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.


--Reporting by Yazdi Merchant,; Editing by Rob Sheridan,

(END) Dow Jones Newswires

April 11, 2024 11:37 ET (15:37 GMT)

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