INEOS Inks LNG Supply Deal with Marubeni for Asian Markets

(Credit: INEOS Energy)

INEOS Energy has signed a liquefied natural gas (LNG) supply agreement with Marubeni Corporation for deliveries into Asian markets from 2029, marking the company's first LNG sales into the Pacific Basin.

Under the agreement, INEOS Energy will supply LNG on a delivered ex-ship (DES) basis, providing access to LNG for Asian markets.

The company said the deal expands its LNG portfolio beyond the Atlantic Basin and supports its strategy of building a globally diversified LNG business spanning both Atlantic and Pacific Basin markets.

“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,” said David Bucknall, CEO of INEOS Energy.

“We are grateful to conclude this agreement with INEOS Energy and looking forward for the collaboration in the global LNG sector,” added Masahiro Yamazaki, Chief Operating Officer, Energy & Chemicals Division at Marubeni Corporation.

INEOS said Asia remains a key centre of global LNG demand, driven by growing energy requirements and fuel switching in the power generation and industrial sectors.

The company added that the agreement strengthens its strategy of providing LNG supply across multiple regions while continuing to expand its global LNG portfolio.