INEOS has reached an agreement with Evergas to expand its
contract for a series of ethane vessels, currently under construction
in China, to six
In January 2013, INEOS agreed a 15-year shipping agreement
with Evergas for the transportation of ethane into Europe
from the US Mariner East project
, as the worlds first
US ethane export contract.
INEOS and Evergas have now expanded the agreement to secure
additional capacity for long-term shipping of advantageously
priced US ethane for INEOS Europe
an crackers at Rafnes and
INEOS will be the first company to establish seaborne
intercontinental ethane transportation, having earlier
announced agreements 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.
Evergas will provide customized vessels for the
INEOS also confirmed that it has reached an agreement with
Enterprise Products for ethane capacity at their
recently-reported ethane export facility on the Texas Gulf
The design and build of highly advanced, sustainable vessels
has been an important consideration in supporting INEOS
competitive business model.
"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.
The new vessels will enter into service in 2015. They are
tailored to meet the specific needs of the project
and will be built to the
latest specifications matching highest environment
al and efficiency
performance measures. They are the largest, most flexible and
advanced multigas carriers yet to be built, according to
The carriers are expected to provide INEOS with a flexible
solution for their ethane supplies with the option of
transporting LNG, LPG as well as petrochemical
The advanced design of these vessels offers very high
efficiency and unparalleled flexibility to INEOS securing the
longevity and strong position of their business," said Martin
Ackermann, CEO of Evergas.
The dual-fuelled vessels will use clean LNG in state of the
art engines securing high efficiency, low emissions
and reduced fuel cost.