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Ineos Energy announced the signing of the LNG supply deal in a statement on Tuesday.
Under the agreement, Ineos Energy will supply LNG on a delivered ex-ship (DES) basis, providing “reliable and flexible access to LNG for key Asian markets,” it said.
The agreement represents an “important milestone” in Ineos Energy’s LNG growth strategy, extending its portfolio beyond the Atlantic Basin into one of the world’s most dynamic LNG demand regions, the company said.
Inoes Energy did not provide any additional details regarding the agreement.
Ineos boosting LNG business
Ineos first entered the LNG sector in June 2022, signing a 20-year agreement with US LNG exporter Sempra Infrastructure.
The firm agreed to buy about 1.4 million tonnes per year of LNG for 20 years from Sempra Infrastructure’s Port Arthur LNG project in Texas.
Starting in 2027, Ineos plans to deliver these Port Arthur LNG supplies to the onshore LNG import terminal in Brunsbüttel, Germany, where it also booked long-term capacity.
The facility, developed by German LNG Terminal at the mouth of the Elbe on the North Sea, will have a capacity of 8 bcm of natural gas per year.
In 2024, Gasunie and RWE made the final investment decision on the onshore LNG import terminal in Brunsbuttel backed by the German government.
Last year, Ineos signed a deal to supply natural gas to Germany’s Covestro.
In addition, the company signed a long-term deal with US midstream operator Kinetik to supply US LNG to Europe from 2027.
Kinteik said in its third-quarter results report that the five-year LNG pricing agreement with Ineos at Port Arthur LNG will start in early 2027.
Under the contract, Kinetik will deliver residue natural gas at a designated interconnect on the Permian Highway pipeline, ultimately representing approximately 0.5 mtpa.
Besides LNG supply and regasification capacity, Ineos also chartered two LNG carriers from Japan’s shipping giant MOL to ship its contracted US LNG supplies to Germany.
