London-based Ineos Energy has shaken hands with Marubeni Corporation, an integrated Japanese trading and investment group, over an LNG supply deal, which enriches Asia’s LNG arsenal.
Ineos Energy has signed an LNG supply agreement with Marubeni Corporation for delivery to Asia from 2029, marking the company’s first LNG shipments to the Pacific Basin.
Masahiro YamazakiThe Chief Operating Officer of the Energy and Chemicals Division of Marubeni Company confirmed: “We are grateful to have concluded this agreement with INEOS Energy and look forward to cooperating in the global LNG sector.”
The London-based company, which will supply LNG on a delivery-by-ship (DES) basis, claims that this deal provides reliable and flexible access to LNG for key Asian markets, supporting continued access to a secure, flexible supply of LNG in the region.
The agreement has been interpreted as representing an important milestone in Ineos’ LNG growth strategy, expanding its portfolio beyond the Atlantic Basin into one of the most dynamic LNG demand regions in the world.
This transaction reinforces the company’s strategy to develop a globally diversified LNG portfolio, spanning the Atlantic and Pacific Basin markets, and providing reliable energy solutions to customers around the world.
David BucknallIneos Energy CEO commented: “This agreement with Marubeni represents an important milestone for INEOS as we expand our LNG activities in Asia. The Pacific Basin is a key growth market for LNG and this transaction provides a platform for growth in the region.
“We continue to build a diversified and resilient LNG portfolio and are pleased to have Marubeni as a strong and established partner.”
According to Ineos, Asia remains a major global hub for LNG demand, supported by structurally growing energy requirements and fuel conversion across the energy and industrial sectors.
Company forrough CNOOC’s business in the US Gulf entered the fold last year and Inky Deal with Kinetik Holdings to supply natural gas to Europe.
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