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INEOS: Scotland needs an indigenous shale gas industry

by ChemOrbis Editorial Team -
  • 11/02/2015 (18:13)
According to petrochemical giant INEOS’s chief executive of upstream business, Gary Haywood, a local shale gas industry should be developed in Scotland. Haywood voiced their concerns about the future of the shale gas industry in Scotland following the Scottish government’s moratorium on granting fracking licences and stated that the company’s plant at Grangemouth may struggle to remain viable over the long term without the development of a local 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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