Lotte Chemical Titan secures $3 billion ethylene supply deal in Indonesia

(Reuters) Malaysia's Lotte Chemical Titan said that its Indonesia-based subsidiary has agreed to a 10-year ethylene supply deal worth around $3 billion with its downstream petrochemical producer, Lotte Chemical Indonesia Nusantara.

Lotte Chemical Indonesia (LCI), which recently commissioned a cracker in Indonesia’s Banten province, will sell 350,000 tonnes of ethylene annually to Lotte Chemical Indonesia Nusantara (LCTN) beginning in September.

Lotte Chemical Titan indirectly controls a 92.5% stake in Lotte Chemical Titan Nusantara.

Lotte Chemical Corp’s large-scale petrochemical plant, LCI, in Banten province, is 51% owned by Lotte Chemical Titan.