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Business

Ineos Buys Up U.K. Shale Gas Licenses

by Alex Scott
October 20, 2014 | APPEARED IN VOLUME 92, ISSUE 42

Petrochemical firm Ineos has acquired an 80% stake in a shale gas exploration license in the Midland Valley of Scotland from the Aberdeen, Scotland-based firm Reach Coal Seam Gas. The license covers an area of 400 sq km. In August, Ineos acquired a 51% stake in a 329-sq-km area that is adjacent to the site it is now licensing. Ineos wants to kick off a shale gas revolution in the U.K. so that it can use ethane from the gas to supply its cracker in Grangemouth, Scotland.

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