INEOS Secures First Asia LNG Supply Deal with Marubeni
INEOS Energy has signed its first LNG supply agreement targeting Asian markets, a move that expands its global LNG portfolio and establishes a presence in the rapidly growing Pacific Basin demand region.
(P&GJ) — INEOS Energy has signed an LNG supply agreement with Japan's Marubeni Corp., marking the company's first deliveries into Asian markets and expanding its LNG portfolio beyond the Atlantic Basin.
Under the agreement, INEOS will supply liquefied natural gas on a delivered ex-ship (DES) basis beginning in 2029. The companies did not disclose contract volumes or financial terms.
The deal gives INEOS a foothold in the Pacific Basin, one of the world's largest LNG demand centers, where growing power generation needs and industrial fuel switching continue to support long-term consumption growth.
The agreement also broadens INEOS Energy's LNG marketing strategy as the company seeks to build a more geographically diversified portfolio spanning both Atlantic and Pacific Basin markets.
"This agreement marks an important step as we expand our LNG activities into Asia," David Bucknall, CEO of INEOS Energy, said in a statement. "The Pacific Basin is a key growth market for LNG and provides opportunities to further develop our presence in the region."
Marubeni said the agreement strengthens cooperation between the companies and supports its participation in global LNG markets.
The transaction is expected to support LNG deliveries into Asian markets beginning in 2029.