Ineos, owner of Scotland's Grangemouth petrodoil refinery, has struck a deal with subsidiaries of ExxonMobil and Shell to supply ethane derived from U.S. shale gas which it is to import into Scotland to their nearby chemical plant, the company said on Nov. 10.
Ineos, the Swiss-based chemicals giant which recently acquired the British North Sea natural gas field interests of Russian billionaire Mikhail Fridman's LetterOne investment fund, will supply ethane from Grangemouth to the Fife Ethylene Plant at Mossmorran in Scotland from mid-2017.
The plant is owned by ExxonMobil Chemical Limited and Shell Chemicals Europe B.V. has 50 percent capacity rights.
"We know that ethane from US shale gas has transformed U.S. manufacturing and we are now seeing this advantage being shared across Scotland," said Geir Tuft, business director at Ineos Olefins & Polymers UK.
Recommended Reading
Subsea7 Awarded Sizable Contract in GoM
2024-04-12 - Subsea7 will install a flowline for Talos’ Sunspear development in the Gulf of Mexico.
E&P Highlights: Feb. 5, 2024
2024-02-05 - Here’s a roundup of the latest E&P headlines, including an update on Enauta’s Atlanta Phase 1 project.
Shell Brings Deepwater Rydberg Subsea Tieback Onstream
2024-02-23 - The two-well Gulf of Mexico development will send 16,000 boe/d at peak rates to the Appomattox production semisubmersible.
Seadrill Awarded $97.5 Million in Drillship Contracts
2024-01-30 - Seadrill will also resume management services for its West Auriga drillship earlier than anticipated.
Oceaneering Won $200MM in Manufactured Products Contracts in Q4 2023
2024-02-05 - The revenues from Oceaneering International’s manufactured products contracts range in value from less than $10 million to greater than $100 million.