Petrochemical giant Ineos announced its first shipment of ethane from the Morgan’s Point terminal in Texas is on its way.
The cargo has been loaded onto the Ineos Intrepid vessel, which is now sailing to the Ineos facility at Rafnes in Norway. This follows the Intrepid’s delivery of shale gas from Philadelphia in March and the new Morgan’s Point terminal on the Gulf Coast, with the Grangemouth site set to take delivery of ethane shipments in the future.
David Thompson, CEO of Ineos trading and shipping, said: “This is another significant development for us as it secures additional ethane from the USA. It complements our needs for competitive raw materials for our European cracker complexes.”
“The investment in the terminal will help to secure the growing international demand for supplies of US ethane from shale, which offers diversification and a competitive raw material for the global petrochemical industry.”