Ineos make Appalachian gas deal

Petrochemical giant Ineos has signed an agreement to purchase even more shale gas from the USA.

By The Newsroom
Saturday, 16th April 2016, 4:00 pm
Ineos shale ship the Ineos Intrepid
Ineos shale ship the Ineos Intrepid

The firm will buy ethane, propane and butane from US company Rex Energy’s source in the Appalachian shale basin near the east coast of America.

The natural gas liquids will be transported to Ineos cracker complexes in Europe.

The transportation of ethane begins this month with shipment of propane and butane beginning next year.

David Thompson, Ineos trading and shipping CEO, 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.”

Last month Ineos received its first shipment of shale from the US, with more destined for Grangemouth later in the year.