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Rex Energy inks NGL agreement with INEOS, for delivery to Europe

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Rex Energy inks NGL agreement with INEOS, for delivery to Europe

on April 11said it has signed an NGL sale and purchase agreement with 's INEOS Europe AG forethane, propane and butane delivery through the system.

The NGLswill be exported by sea to INEOS' cracker complexes in Europe, according to thenews release. Transport of ethane supplies have begun in April and propane and butanedelivery will begin upon completion of the Mariner East 2 pipeline, which is expected in 2017.

"Withthe new sales agreement, we will now have three different outlets to deliverour natural gas liquids volumes, both domestic and international. The newoutlets will enhance the economics of our wells in the Butler Operated Area andour overall resource potential" said Tom Stabley, president and CEO of RexEnergy.

Thefirst export cargo ofethane from U.S. shale gas arrived March 23 via the INEOS Intrepid at thecompany's petrochemicals plant in Norway, INEOS confirmed in the release. INEOShas invested $2 billion to bring U.S. shale gas to Europe.