INEOS: Scotland needs an indigenous shale gas industry
The environmental and health impacts of fracking, the process through which shale gas is extracted, were cited as the main reasons behind the government’s moratorium on fracking licenses. Haywood commented that although they now can source ethane at very low prices from the US, this will last only for the next 10 to 15 years before US capacity will have grown to the point that it will not make economic sense to ship ethane from the US to Scotland.
Previously, the INEOS Group had announced that their Grangemouth petrochemical complex would be fully based on shale gas by 2016 and that the company will import US shale gas to the UK to achieve this transition.
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