Swiss-based chemical company Ineos doesn't believe only North American suppliers should directly benefit from the shale gas boom.
"We are a global business supplying world markets so competitively-priced raw materials are essential if we are to maintain our business and jobs here in the future," said Magnar Bakke, site manager Ineos olefins & polymers Norway.
Ineos said that having the capability to import up to 800,000 tons of ethane feedstock from the U.S. every year complements its portfolio of feedstock agreements for its European gas crackers and will strengthen its competitive position as an ethylene producer in Europe for the foreseeable future.
Ineos will be the first company to establish seaborne intercontinental ethane transportation, having announced agreements with Sunoco Logistics for capacity in the Mariner East pipeline and terminal system, and with Range Resources and Consol Energy for the purchase of ethane. Evergas is providing customized vessels for the transportation.