The Telegraph: INEOS looks to cash in on shale gas boom

The UK head of petro-chemicals giant INEOS has opened the door to investing in Cuadrilla Resources to take advantage of the possible boom in shale gas exploration.

Tom Crotty, INEOS director, likened the potential for gas derived from "fracking" to that of North Sea oil. He said he wants to see the Government promote the fledgling industry.

Fracking is short for hydraulic fracturing, the process of injecting fluid into the ground to fracture shale rocks to release natural gas. In the US, fracking is a multi-billion dollar industry, but the UK Government has been slow to move on the nascent industry amid safety fears following a series of small earth tremors in Blackpool linked to one of Cuadrilla's test sites. MORE