UK Government Clears the Way for a € 285 Million Loan Guarantee for Ineos

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Ineos has also finalised contract agreements with specialist engineering company TGE Gas Engineering for the expansion o the Grangemouth facilities, including what will be the largest ethane storage tank in Europe.

TGE Managing Director, Werner Schlott said, “We are very pleased to have been awarded the contract to build the ethane storage tank for INEOS O&P UK at their site in Grangemouth. As a company we have extensive expertise and knowledge of tank construction and relish the opportunity to bring this to Scotland. We look forward to working with the project team at Grangemouth and to delivering the ethane storage tank.”

Making Grangemouth Ready for the Shale–Revolution...

Harry Deans, CEO, Olefins & Polymers UK says “We are delighted to confirm we have finalised a contract with TGE for them to build the ethane storage tank. The construction of the storage tank is complex and needs specialist knowledge, but in TGE, we know we are working with a company that are truly leaders in their field."

Currently, Ineos owns and operates two (of four) European ‘gas crackers’ that are capable of utilising advantaged US shale ethane gas feedstock, one in Grangemouth, Scotland, the other in Rafnes, Norway.

Ethylene is a vital petrochemical feedstock widely used in the manufacture of a range of products and other chemicals. It is is used on-site at Grangemouth to produce polyethylene (plastic), ethanol and is exported across the UK and into Europe.

US Ethane Exports

Evergas to Ship US Ethane to Europe for Ineos

With Ethane–Cracker Mega Project

Ineos has already announced that it has reached an agreement with Evergas to expand its contract for a series of state-of-the-art ethane vessels, which are currently under construction in China, from four to six vessels that will bring shale gas (ethane) from the US to its European assets.

It has also announced agreements with Sunoco Logistics for capacity in the Mariner East pipeline and terminal system, with Range Resources and Consol Energy for the purchase of ethane, from the US. In addition it has reached agreement with Enterprise Products for ethane capacity at their recently announced ethane export facility on the Texas Gulf coast.

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