London-based Ineos Energy has shaken hands with Marubeni Corporation, a Japanese integrated trading and investment business conglomerate, on a liquefied natural gas (LNG) supply deal, which enriches the Asian LNG arsenal.
Ineos Energy has signed an LNG supply agreement with Marubeni Corporation for delivery into Asia from 2029, said to mark the company’s first LNG deliveries to the Pacific Basin.
Masahiro Yamazaki , Chief Operating Officer, Energy & Chemicals Div of Marubeni Corporation, emphasized: “We are grateful to conclude this agreement with INEOS Energy and looking forward for the collaboration in the global LNG sector.”
The London-based firm, which will supply LNG on a delivered ex-ship (DES) basis, claims this deal provides reliable and flexible access to LNG for key Asian markets, supporting continued access to secure flexible LNG supply in the region.
The agreement is interpreted to represent an important milestone in Ineos’ LNG growth strategy, extending its portfolio beyond the Atlantic Basin into one of the world’s most dynamic LNG demand regions.
The transaction reinforces the company’s strategy to develop a globally diversified LNG portfolio, spanning Atlantic and Pacific Basin markets, and provide reliable energy solutions to customers worldwide.
David Bucknall , CEO of Ineos Energy, commented: “This agreement with Marubeni marks an important milestone for INEOS as we expand our LNG activities into Asia. The Pacific Basin is a key growth market for LNG and this deal provides a platform for growth in the region.
“We continue to build a diversified and flexible LNG portfolio and are delighted to have Marubeni as a strong and established partner.”
According to Ineos, Asia continues to be a key global LNG demand center, underpinned by structurally growing energy requirements and fuel switching across the power and industrial sectors.
The firm b rought CNOOC’s U.S. Gulf business into its fold last year and inked a deal with Kinetik Holdings for natural gas supply to Europe.