City AM: The shale gas revolution will be good for all of Britain – if we embrace it now

THE SHALE gas debate has been heating up over the past few weeks with two positive announcements from the government. Planning permission will be streamlined and new exploration licenses have been awarded, of which INEOS has won three to add to the 11 we already hold.

Obviously, this is fantastic news for INEOS, but more importantly, it’s fantastic news for the UK. Moving ahead quickly with shale exploration offers Britain the chance to grab European leadership in this exciting new industry, the benefit of which could be shared by everyone for years to come.

Let’s just think about the North Sea for a second. The UK is currently Europe’s leader in offshore oil and gas and our engineers are world-class. Aberdeen is seen as the capital of Europe’s oil business, and the citizens of the UK have received billions of pounds of revenue from North Sea wells over the years. As the North Sea declines, shale gas could help to fill the gap and keep these jobs and the investment flowing. Who knows, maybe shale could even prompt the creation of more hubs like Aberdeen.

Read the full opinion piece by Tom Crotty of Ineos Group HERE