Chemical Company Ineos New Fracking Threat After Deal
Fracking company IGas has signed a £30m deal with chemical company Ineos, owners of the Grangemouth petrochemical plant in Scotland.
The tie-up is designed to expand IGas’s fracking efforts with Ineos pledging an additional £138m to fund IGas exploration in the North West and East Midlands regions in England.
The deal gives Ineos access to almost a quarter of a million acres of UK, and will likely mean that it become the UK’s third-largest fracking company behind IGas and Cuadrilla. Ineos has also applied for more license blocks as part of the ongoing 14th onshore licensing round.
See: Fracking Scotland: Time To Get Organised for more details on Ineos activities in Scotland.