Ineos import ethane European crackers fromUS

Ineos to import ethane for European crackers from the US

11:29 AM, 28th September 2012
Ineos to import ethane for European crackers from the US

LAUSANNE, SWITZERLAND: Ineos Europe AG has completed supply and infrastructure agreements that will secure a significant volume of ethane feedstock from the US, for use in its European cracker complexes. The company has agreed to a long term deal with Range Resources – Appalachia LLC, for lifting of ethane from the Marcus Hook facility from 2015. The agreement is effective upon Federal Energy Regulatory Commission (FERC) approval of the Mariner East project.

“The supply deal with Range Resources complements our portfolio of feedstock agreements for our European crackers and will strengthen our competitive position as an ethylene producer in Europe for the foreseeable future,” said David Thompson, Procurement & Supply Chain Director, Olefins & Polymers Europe, Ineos.

Ineos has also finalized pipeline transportation services and terminal services agreements for shipping of ethane, with subsidiaries of Sunoco. The agreements will be valid for 15 years and will provide Ineos Olefins & Polymers Europe significant supply options for the future.

It is expected that when completed, the Mariner East project will transport approximately 70,000 barrels per day of ethane and propane from Houston, Pennsylvania to the Marcus Hook terminal facilities. Ethane will then be separated by fractionation and held in storage ready for shipment to Europe. It is expected that ethane from the Mariner East project will become available during the first half of 2015.

“Ineos can now position itself as an attractive customer for upstream companies with interests in Marcellus, Utica and Upper Devonian gas formations. We will provide these companies with a credible option to diversify sales and supply ethane into our downstream cracker complexes in Europe,” said Thompson.

© WOC News




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