INEOS buys more US shale gas for Europe

INEOS Europe AG has announced a new sale and purchase agreement to ship US shale gas to Europe. It has signed the deal with US shale company Rex Energy which also covers […]

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By Jacqueline Echevarria

INEOS Europe AG has announced a new sale and purchase agreement to ship US shale gas to Europe.

It has signed the deal with US shale company Rex Energy which also covers ethane, propane and butane.

The transportation of the chemicals will start this month.

It follows INEOS’ announcement last month confirming its vessel arrived from the US to its petrochemicals plant at Rafnes in Norway with 27,500 cubic metres of shale gas ethane.

That was the very first time that ethane from US shale gas had ever been exported from the country and the first time it has been imported into Europe, according to the company.

INEOS claims it has invested $2 billion (£1.4bn) bringing shale gas from the US to Europe.

David Thompson, CEO INEOS Trading and Shipping said: “This contract adds to our supply portfolio providing for long term sourcing of advantageously priced US natural gas liquids for our European crackers. We are excited about our new business relationship with Rex Energy and look forward to future opportunities between our companies.

“Shale gas economics has revitalised US manufacturing, it has the potential to do the same for European manufacturing.”