Jim Ratcliffe’s Ineos strikes deal with Japan’s MOL for newbuild LNG carriers

Ineos Energy Trading has signed agreements with Mitsui OSK Lines (MOL) for two newbuild liquefied natural gas carriers in a bid to supply LNG to Europe’s biggest fuel consumer, Germany.

The gas trading business of Ineos Group, headed by its founder and chairman, UK billionaire Jim Ratcliffe, has agreed with the Japanese shipowner to purchase two vessels with carrying capacity of 174,000 cubic metres each.

The carriers will be built at the Okpo Shipyard in South Korea, Ineos said on Tuesday.