Sky News: Shale Gas Terminal 'Saves' Grangemouth

The owners of the Grangemouth terminal, threatened with closure last year, say its future has been secured by a Goverment loan to help build a shale gas facility.

Ineos says the promise of £230m would allow it to raise funds to invest in a new terminal to import, store and process ethane from shale gas as North Sea supplies dwindle.

The company said it was one of the most important infrastructure projects of recent times in Scotland and would protect thousands of jobs across the UK by ensuring the long-term future of petrochemical manufacture at Grangemouth.

The ethane tank will be the largest in Europe and is central to the company's plans to import shale gas from the US - a product that has helped bring down world gas prices but is controversial because of the use of a process called fracking to extract it.
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