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Total (FR) and Sea-Invest (Flanders) cooperate in Antwerp

French petrochemical giant Total and Flanders-based Sea-Invest are joining forces in a new venture in the Port of Antwerp: Totseanergy. The project further strengthens the position of both investors in the port.

Fortified bond

Philippe Van de Vyvere’s fast growing Sea-Invest owns 51% of Totseanergy, while Total’s share accounts for 49%. Although the French have repeatedly funneled funds into the port’s expansion, it’s the first time that the multinational is this directly engaged, thus anchoring its presence in Europe’s second biggest port.

The joint venture is a success story for Ghent-based Sea-Invest as well: they too have channeled EUR 250 million into the port since 2010, creating 800,000 cubic meters of oil tanks for their client Total. Totseanergy reinforces the ties between both companies and consolidates their position in Antwerp. 

Chemicals hotspot

Totseanergy yields many logistic opportunities for the port: tank storage will be expanded, and a new pipeline will connect the tanks to the Total refinery, which lies 30 meters below the docks. In this way, the port of Antwerp continues to grow as Europe’s biggest petrochemicals hub. On top of that, both the construction of the plant as well as its operation, starting 2019, will create several new jobs.

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Reported by
Gazet van Antwerpen newspaper
28 September 2017

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