In January 2013, the oil and chemicals group INEOS set itself to become the world’s first US ethane exporter after signing a 15-year shipping agreement with Evergas for the transportation of ethane into Europe from the US Mariner East project. It has now increased it’s fleet of advanced multigas carriers from four to six in order to bring cheap American shale gas to its refineries at Grangemouth, Scotland and Rafnes in Norway. The vessels – currently under construction in China – are expected to enter serivce in 2015.
INEOS has signed contracts with Sunoco Logistics for capacity in the Mariner East pipeline and terminal system and with Range Resources and CONSOL Energy for the purchase of ethane.
Yesterday, INEOS also announced a deal with US producer Enterprise Products Partners for the supply of shale ethane from the company’s export facility on the Texas Gulf coast.
German firm TGE has been named as the preferred bidder to build a huge ethane tank at the Grangemouth site by 2016.
Evergas is contracted to provide transportation vessels, customized for transporting LNG, LPG as well as petrochemical gases, including ethylene, giving INEOS much-needed flexibility in response to changing market conditions.
“Having worked successfully with Evergas for more than a decade, we are very confident that these vessels will provide long term security and competitiveness of our feedstock supplies,” said David Thompson, CEO of INEOS Trading & Shipping.
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