News
INEOS – an important milestone
The increased order raises the fleet to 8 Dragon Class ships which are needed as construction of an ethane terminal starts at Grangemouth and another nears completion at Rafnes
David Thompson, chief operating officer INEOS Trading & Shipping said: “This exciting news is another important milestone in our plan to bring the benefits of US shale economics to our European sites.”
Investment in a supply of US ethane is vital to secure the long-term competitiveness and sustainability of gas crackers that so far have relied on declining and expensive volumes from the North Sea.
At Grangemouth construction of a new ethane import terminal and storage tank and infrastructure is well under way and should be completed in 2016. At Rafnes in Norway, a new ethane storage tank and terminal are approaching completion in time to be fully operational in 2015.
“The ethane that we’re bringing to our sites from the US is essential to these plants,” added David Thompson. “As the most competitive feedstock in Europe it will be transformational for our operations. The two additional ships mean we can transport sufficient volumes of ethane to meet the demands of our manufacturing sites and continue to take advantage of significant cost benefits.”
The Dragon Class ships are tailored to meet the specific needs of this project and are built to the latest specifications matching the highest environmental and efficiency performance levels. They are the largest, most flexible and advanced multi-gas carriers yet to be built. They will provide INEOS with a flexible solution for their ethane supplies with the option of transporting LNG, LPG as well as petrochemical gases including ethylene.
www.ineos.com/sites/grangemouth