INEOS Energy charters two LNG carriers to import LNG from the US to Europe
INEOS Energy Trading has signed agreements with Mitsui O.S.K. Lines (MOL) for two new build LNG carriers, to be used for the import of LNG into Germany from the United States, according to the company's release.
These agreements are a significant milestone for INEOS Energy Trading, following the long-term Sales and Purchase Agreement signed with Sempra for 1.4 mtpa of supply out of Port Arthur and the purchase of long-term regasification capacity in Brunsbuttel, the German LNG terminal.
INEOS will capitalise on its experience as the largest transporter of ethane gas from the US to Europe and Asia, to develop a ‘pipeline’ of LNG into Europe to service its own demand, as well as that of select third parties.
Both vessels have a capacity of 174,000 m3. They are being built at the Okpo Shipyard in South Korea and will be equipped with the latest MAN Energy Solutions engines (ME-GA). The addition of Air Lubrication technology and Shaft Generators means the vessels are expected to be highly efficient.
Whilst INEOS has an extensive fleet of ethane and naphtha carriers, these two vessels signify their first entry into the LNG carrier market.
INEOS is a global petrochemicals manufacturer, comprising 36 individual businesses. The company operates 194 facilities in 29 countries throughout the world, employing 26,000 people.
