INEOS Energy has signed a major long-term agreement with U.S. energy company Kinetik Holdings Inc. to supply natural gas to Europe beginning in 2027, in a move designed to strengthen the continent’s energy resilience and ensure stable pricing amid continued supply uncertainty.
Under the deal, Kinetik will deliver up to 0.5 MMtpa of natural gas — enough to heat more than 500,000 homes annually, roughly equivalent to the yearly demand of a major European city such as Manchester, Antwerp, or Cologne. The supply will be priced using a Title Transfer Facility (TTF) Netback mechanism, directly linking U.S. gas prices to Europe’s benchmark market while reducing exposure to volatility and supply shocks.
“Europe has paid a heavy price for failing to secure its own energy,” said David Bucknall, CEO of INEOS Energy. “We’re doing something about it. This deal will bring more U.S. gas into Europe, helping to keep the lights on, factories running, and homes warm at competitive prices. It’s good for industry, good for jobs, and good for energy security.”
Jamie Welch, President and CEO of Kinetik, said the partnership “broadens and diversifies attractive natural gas pricing options for our producer customers” and reflects the company’s commitment to providing innovative and value-added solutions across the Permian basin.
The agreement reinforces INEOS Energy’s strategy to expand its global natural gas and LNG portfolio while supporting Europe’s efforts to secure reliable, long-term supplies of affordable energy. Both companies highlighted that the deal will contribute to stabilizing markets, supporting industrial competitiveness, and ensuring continuity of supply for energy-intensive industries across Europe.
