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01-23-2013

Ineos Europe/Evergas: Long-Term Shipping Agreements

Ineos Group AG, Rolle, Switzerland, has entered into 15-years shipping agreements with Evergas, Copenhagen, Denmark, for the transportation of ethane into Europe from the US Mariner East project. Under the agreements, Evergas will build and operate new customized vessels that will be dedicated to the transportation of ethane from Marcus Hook, US to Rafnes, Norway.

These new agreements follow the recent completion of supply and infrastructure agreements by Ineos, to access ethane feedstocks from the US for use in its European cracker complexes and the announcement of the construction of a new ethane tank in Rafnes. The new vessels, that will enter into service in 2015, are tailored to meet the specific needs of this project and will be built to the latest specifications matching highest environmental and efficiency performance measures. The shipping agreement with Evergas follows a number of well timed investments by Ineos that will help secure a significant volume of ethane feedstock from the US, for use in its European cracker complexes.

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