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.
Supplies will start from 2015.
This contract adds to our supply portfolio providing for long term sourcing of advantageously priced US ethane for our European 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 Rafnes cracker.
INEOS is presently conducting engineering studies for the construction of an ethane terminal in Grangemouth.
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