Guardian: Grangemouth Needs Local Shale Gas Industry to Secure Future, Says Owner

Scotland’s largest petrochemical plant is unlikely to have a long-term future unless a local shale gas industry can be developed, according to the firm that owns the facility at Grangemouth.

Ineos proposes using shale gas as a raw material for its chemicals plants, and has revealed plans to put millions into exploration.

But developing the industry could be stalled or even prevented after the Scottish government announced a moratorium on granting planning consents for fracking – the means by which the gas is extracted.

Growing public concern about the environmental and health impact of the process has led to the moratorium.

Ineos has invested in an ethane supply project at Grangemouth that will allow the firm to import, store and use cheap shale gas from the US.

But the chief executive of the company’s upstream business, Gary Haywood, said the move was not a long-term solution.

Read the full article HERE.