Issue Date: October 20, 2014
Ineos Buys Up U.K. Shale Gas Licenses
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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