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INEOS Energy charters MOL LNG carriers

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Picture of Cyann Fielding

Cyann Fielding

Journalist at Tank Storage Magazine.
LNG ship sets sail on calm water

INEOS Energy Trading has signed agreements with Mitsui O.S.K. Lines (MOL) for two new build LNG carriers, to be used for importing LNG into Germany from the United States.

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 the latest MAN Energy Solutions engines (ME-GA). The addition of air lubrication technology and shaft generators means the vessels are expected to be highly efficient.

David Bucknall, CEO of Ineos Energy Trading says: ‘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. We will continue to work with MOL to identify further opportunities to reduce emissions as both companies work towards a net zero future.’

These agreements are a significant milestone for INEOS Energy Trading. It comes after the long-term sales and purchase agreement signed with Sempra for 1.4 million tonnes per annum (mtpa) of supply out of Port Arthur, and the purchase of long-term regasification capacity in Brunsbuttel, the German LNG terminal.

INEOS will capitalise on its experience as the largest transporter of ethane gas from the US to Europe and Asia, to develop a pipeline of LNG into Europe to service demand.

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