LyondellBasell and Oiltanking Stolthaven Sign Agreement for Storage of GAA & VAM in Antwerp

ROTTERDAM, Netherlands and ANTWERP, Belgium -- LyondellBasell and Oiltanking Stolthaven Antwerp recently announced that Lyondell Chemie Nederland BV and Oiltanking Stolthaven Antwerp NV have signed a 10-year agreement for the storage and handling of Glacial Acetic Acid (GAA) and Vinyl Acetate Monomer (VAM) in Antwerp. As part of the agreement, Oiltanking Stolthaven will invest in new stainless steel storage capacity and rail loading infrastructure at Antwerp.

"GAA and VAM are industrial chemicals that are in high demand. Europe has an increased need for these imports. This agreement allows us to solidify our commitment to the European acetyls market and continue to serve our customers needs far into the future," said Justin Hommes, Marketing Manager, Acetyls and BDO-Derivatives of LyondellBasell in Europe.

GAA is one of the worlds most essential intermediate chemicals. It is used to manufacture VAM, purified terephthalic acid, acetic anhydride, monochloroacetic acid and acetate esters. VAM is a chemical building block used to manufacture a wide variety of industrial and consumer products such as polyvinyl acetate for paints, adhesives and coatings. Polyvinyl alcohol is also used to make adhesives, coatings and water soluble packaging films. Polyvinyl acetals are used to produce insulation for magnetic wire, interlayers for safety glass, wash primers and coatings. Other related applications of ethylene vinyl acetate copolymers include flexible films, coatings, adhesives, moldings and insulation and packaging.

LyondellBasell is a global supplier of GAA and VAM. Its customers are served by a global storage and distribution network that spans North America, Europe and Asia.

About LyondellBasell

LyondellBasell (NYSE: LYB) is one of the worlds largest plastics, chemical and refining companies and a member of the S&P 500. LyondellBasell manufactures products at 58 sites in 18 countries. LyondellBasell products and technologies are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels.

About Oiltanking Stolthaven Antwerp