Britain’s Ineos signs 20-yr LNG deal with Sempra Infrastructure

Author of the article: Britain’s INEOS Energy, part of INEOS Group, has signed an agreement with U.S. firm Sempra Infrastructure for the supply of 1.4 million tonnes per annum of liquefied natural gas (LNG) from North America for 20 years, it said on Wednesday. It marks INEOS’s entry into the global LNG market, with the…
Britain’s Ineos signs 20-yr LNG deal with Sempra Infrastructure

Author of the article:

Britain’s INEOS Energy, part of INEOS Group, has signed an agreement with U.S. firm Sempra Infrastructure for the supply of 1.4 million tonnes per annum of liquefied natural gas (LNG) from North America for 20 years, it said on Wednesday.

It marks INEOS’s entry into the global LNG market, with the volumes intended both for trading and supplying of INEOS’ own industrial needs in Europe.

The LNG will be delivered free-on-board, from either the proposed Port Arthur LNG Phase 1 project or the Cameron LNG Phase 2 projects in the U.S. Gulf, INEOS Energy said.

The deal is still a preliminary non-binding arrangement subject to the two LNG projects securing all necessary permits, engineering and construction contracts, obtaining financing and a final investment decision, it added.

INEOS Energy’s long-term supply agreement comes as Europe is seeking alternative gas sources and secure supply amid dwindling deliveries of Russian gas.

In May, Poland’s PGNiG also signed a 20-year LNG supply deal with Sempra. (Reporting by Nora Buli in Oslo; Editing by Nina Chestney)

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Amazon is exploring offer for Peloton, source says; report says Nike also weighing bid
Read More

Amazon is exploring offer for Peloton, source says; report says Nike also weighing bid

Author of the article: Peloton Interactive Inc has drawn interest from potential buyers including e-commerce giant Amazon.com Inc, according to a person familiar with the matter, as the exercise bike maker struggles to maintain pandemic-fueled growth. Shares of Peloton surged 30% in extended trading on the news, which comes days after activist investor Blackwells Capital…
South Korea Accelerates LNG Purchases to Avoid Winter Shortage
Read More

South Korea Accelerates LNG Purchases to Avoid Winter Shortage

South Korea is looking to buy more liquefied natural gas to replenish stockpiles before winter. Author of the article: 2w{5r)n57i4(hems89h6sn[u_media_dl_1.png Bloomberg RSS (Bloomberg) — South Korea is looking to buy more liquefied natural gas to replenish stockpiles before winter.  Advertisement 2 This advertisement has not loaded yet, but your article continues below. The world’s third-biggest…
Airline body IATA says Hong Kong has lost global aviation hub status
Read More

Airline body IATA says Hong Kong has lost global aviation hub status

This advertisement has not loaded yet, but your article continues below. Author of the article: Article content DUBAI — International Air Transport Association Director General Willie Walsh said on Wednesday that Hong Kong has lost its position as a global aviation hub due to China’s zero-COVID policy. Walsh was speaking at a conference in Doha…
Oil slips as Kazakh supply concerns ease
Read More

Oil slips as Kazakh supply concerns ease

Author of the article: LONDON — Oil prices slipped on Friday, with some supply concerns easing after a partial export resumption from Kazakhstan’s CPC crude terminal, while the European Union remained split on whether to impose an oil embargo on Russia. Brent crude fell $1.29, or 1.1%, to $117.74 a barrel at 1049 GMT and…