And although there is no activity at these sites yet, INEOS has already committed to full and open consultation with local communities and has also promised to share 6% of the revenue from its wells with homeowners, landowners and local authorities. It has now acquired two licences to access indigenous gas from shale in Scotland. INEOS could soon be drilling for shale gas in a bold move that could help to safeguard the future of manufacturing in the UK and increase Britain’s energy security.Īs Europe, which is now one of the most expensive places in the world to make petrochemicals, dithers over shale gas, INEOS has seized the initiative once again. It could do the same for the UK and Europe. Hydraulic fracturing has led to a manufacturing renaissance in America. Now it is looking longer term and is seeking to access indigenous gas from UK shale. From next year it will start shipping competitively-priced ethane from US shale gas to its gas crackers in Europe. But as many wait for a political solution, INEOS is taking action, now, to protect its business before it is too late. The issue is widely acknowledged by those manufacturing businesses trying to compete in global markets. In addition, across Europe, spiralling energy costs continue to threaten the very future of its petrochemical industry.

Dwindling supplies of ethane gas from the North Sea has threatened the competitiveness of INEOS manufacturing units in Grangemouth (Scotland) and Rafnes (Norway).

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