INEOS reaches deal with Consol to buy US ethane for offtake to Europe
INEOS Europe has announced a new ethane purchase agreement with Consol Energy in the US, in which ethane will be transported through the Mariner East infrastructure and imported by sea for use in INEOS’ European cracker complexes. Ethane supply will begin in 2015.
INEOS Europe has announced a new ethane purchase agreement
with Consol Energy in the US, in which ethane will be
transported through the Mariner East infrastructure and
imported by sea for use in INEOS Europe
an cracker complexes.
Supplies will start from 2015.
This contract adds to our supply portfolio providing
for long term sourcing of advantageously priced US ethane for
an crackers," said David
Thompson, INEOS procurement and supply chain director..
"It will allow us to continue to consolidate the
competitiveness of INEOS ethylene production in Europe
," he added. "We are excited
about our new business relationship with Consol Energy and
look forward to future opportunities between our companies."
INEOS is the first company to establish seaborne
intercontinental ethane transportation, having earlier
announced the completion of agreements with Sunoco Logistics
for capacity in the Mariner East pipeline and terminal
system, with Range Resources for the purchase of ethane, with
Evergas for the construction
of new customized
vessels and with TGE Engineering for the construction
of a new tank in its
INEOS is presently conducting engineering studies for the construction
of an ethane terminal