TPC Group acquired by ENEOS

ENEOS Holdings acquires TPC Group, an American C4 hydrocarbons processor, as part of its strategy to expand in materials and chemicals in North America. The transaction, announced in August 2026 and expected to close in October 2026, covers TPC's petrochemical operations in Houston as well as its terminals in Port Neches and Lake Charles. The strategic logic rests on several factors. First, the acquisition strengthens ENEOS's competitiveness in the petrochemical C4 value chain by leveraging its operational expertise in the crude C4 business. Second, the transaction enables ENEOS to expand its U.S. operations and secure stable supply sources in North America amid tightening butadiene supply-demand dynamics in Asia. The acquisition positions ENEOS as the world's third-largest butadiene producer and creates complete vertical integration, from C4 chemical raw materials to high-performance elastomers, not only in Japan and Asia but also in North America. This transaction aligns with ENEOS's Fourth Medium-Term Management Plan, which targets portfolio restructuring and strengthening of base and materials businesses. ENEOS is committed to supporting long-term growth through continued investment in TPC's assets, downstream capabilities, and other strategic opportunities along the Gulf Coast.