INEOS Energy charters two LNG carriers to create US-Europe digital LNG pipeline

INEOS Energy Trading stated it has signed agreements with Mitsui O.S.K. Lines (MOL) for two new build LNG carriers to be used for the import of LNG into Germany from the United States. "These commitments are an important milestone for INEOS Energy Dealing, following the long-term Sales and Purchase Agreement signed with Sempra for 1.4 mtpa supplies out of Port Arthur and the purchase of long-term regasification capacity in Brunsbuttel, the German LNG terminal," the firm said in a statement.

INEOS said it will capitalize on its expertise as the biggest transporter of ethane gas from the US to Europe and Asia to build a ‘pipeline’ of LNG into Europe to service its own demand, as well as that of select third parties. Both vessels have a capacity of 174,000 m3. They are being built at the Okpo Shipyard in South Korea and will be equipped with MAN Energy Solutions engines (ME-GA).

“it was extremely important that we selected modern, efficient vessels with environmental considerations embedded in the design. We agreed an engine type and vessel specification with MOL that we believe is optimal for reducing carbon emissions and methane slip,” David Bucknall, CEO of Ineos Energy Trading, said. INEOS has a large fleet of ethane and naphtha carriers and these two vessels signify the firm's entry into the LNG carrier market.