Bulk imports of US shale gas to transform Grangemouth petro-chem refinery

Ineos signIneos – the company which owns and operates the Grangemouth petro-chemical refinery – has confirmed its plans to import US shale gas to Scotland.

The exploration and extraction of shale gas in the United States – at prices which vastly under-cut both traditional oil and gas from the North Sea – is set to transform the plant’s future.

There are no shale gas wells in Scotland and – as reported yesterday in Scottish Energy News – different licensing rules north and south of the border are likely to hamper fracking investment in Scotland.

Confirming the £300 million investment, Calum MacLean, Chairman of Ineos Grangemouth, said that the plant would become profitable from the minute it starts to ship in US shale gas in bulk volumes in 2016.

The investment in new harbour and bulk storage facilities for the shale imports was part of the government-brokered deal which ended the recent bitter industrial dispute between workers and management at Grangemouth.

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