Ineos recognized for its plan to bring ethane from U.S. shale gas to EuropeIneos recognized for its plan to bring ethane from U.S. shale gas to Europe
Swiss-based chemical company Ineos doesn't believe only North American suppliers should directly benefit from the shale gas boom."We are a global business supplying world markets so competitively-priced raw materials are essential if we are to maintain our business and jobs here in the future," said Magnar Bakke, site manager Ineos olefins & polymers Norway.
June 4, 2014
Ineos said that having the capability to import up to 800,000 tons of ethane feedstock from the U.S. every year complements its portfolio of feedstock agreements for its European gas crackers and will strengthen its competitive position as an ethylene producer in Europe for the foreseeable future.
Ineos will be the first company to establish seaborne intercontinental ethane transportation, having 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 is providing customized vessels for the transportation.
And for the company's initiatives was recently recognized with the "Outstanding Contribution to the Chemical Industry Award" at the second annual Petrochemicals Awards of Excellence. Other companies nominated were Dow, UOP and BASF.
On accepting the award, Fernando Mota, Ineos feedstock, energy & CO2 manager, said: "Ineos is very proud to have won this award, in recognition of our innovative plans to bring ethane across the Atlantic from North America's burgeoning shale gas market. In so doing we will secure the competitiveness of our assets for the long-term; effectively moving our crackers at Rafnes and Grangemouth into pole position to compete with the best in the world. We are one of the very few who could have undertaken such a move; we saw the opportunity early and moved quickly in this rapidly developing arena. A move that presents a future opportunity for our customers and benefit to Ineos and its employees."
Mota went on to say that a dditional gas ships have been ordered in recent days, following the company's deals with other gas suppliers including Consol and its Enterprise Gas Terminal deal in the U.S. Gulf Coast. This brings its fleet tally to six, for supply to the company's gas crackers in Norway and the UK.
"By 2015, the first shipments of gas will arrive, heralding an exciting new phase in the European petrochemicals industry," Mota said.
The award ceremony took place during the 11th annual Global Petrochemical Conference, which was held at the Steigenberger Hotel in Berlin, Germany. The Global Petrochemical Conference is organized by the World Refining Association.
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