UK Shale Gas Import Facility Ready in 2016, Says INEOS

INEOS signed a Heads of Terms with TGE for the delivery of a new ethane import facility in Scotland aimed at saving the Grangemouth plant and importing  shale gas from the United States.

As part of the £300 million survival plan announced last year, Grangemouth will host a new ethane thank. 

“The ethane tank will be the biggest in Europe. It is a crucial part of our survival plan that will enable us to import shale gas from the USA. By 2016 Grangemouth will be a shale gas based facility, essential for it to become a profitable business again,” Harry Deans, CEO INEOS O&P UK, said on a note released on Friday. 

Meanwhile, INEOS is moving ahead with the closure of other facilities. 

“Both G4 and BE3 plants are no longer commercially viable. Both facilities date from the 1960’s and their closure is another key part of our survival plan. We are pleased to be able to redeploy all affected staff into other roles across the Grangemouth site as we focus on the future,” Deans concluded.