Bloomberg: Ineos Turns to Shale Gas to Bolster Chemicals Business
Ineos Group AG is considering investing in U.K. shale-gas exploration to secure raw materials for its chemicals operations in the country after a shortage threatened to close a plant employing at least 800 people.
The country’s biggest petrochemical company has charged a team of five people to look into options including supporting the nascent shale industry by investing in exploration and production, according to an article in an in-house magazine on its website.
“The reason for putting together this team is to look at what the options might be for us,” Tom Crotty, a director of the Rolle, Switzerland-based company, said by phone on June 9. “We may buy into something that’s already there” or pick up acreage in the 14th onshore licensing round, he said.