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INEOS and Pacific Gas sign charter agreement

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Picture of Meenal Datar

Meenal Datar

Membership specialist

Global chemical company, INEOS and integrated supply chain services for clean energy, Pacific Gas, have signed a long-term time charter agreement for four 99,000m3 very large ethane carriers (VLEC). The deal will bring INEOS’ ethane fleet to 16 vessels, with eight VLECs and eight dragon class ethane carriers. With these agreements, INEOS will have a total of six VLECs under time charter with Pacific Gas.

David Thompson, CEO of INEOS trading and shipping, says: ‘Earlier this year, INEOS and Pacific Gas launched the two largest VLECs in the world: the Pacific INEOS Belstaff, and the Pacific INEOS Grenadier. […] we look forward to working with them and the other valuable stakeholders in this exciting project.’

‘This cooperation benefits from the mutual trust and support of all parties in the project. All parties will take this opportunity to work together and complement each other’s advantages to create a new win-win cooperation in future,’ adds chairman Jiang Guodong.

The signing of the long-term time charter agreements for four 99,000 cubic meter VLEC vessels will take Pacific Gas’ ethane carrying capacity to the largest in the world.

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