18th Aug 2014 13:11
LONDON (Alliance News) - Petrochemicals group Ineos Group Ltd has made its first move into the shale gas industry, buying the rights to explore for shale gas in the area around the Grangemouth refinery complex in Scotland, The Daily Telegraph reported Monday.
The Swiss group said it has bought a 51% stake in the shale portion of the PEDL licence area from BG Group PLC for an undisclosed amount, the newspaper said.
The remainder of the stake in the shale gas licence is owned by Dart Energy, the Australian firm currently in the process of being taken over by IGas Energy PLC.
http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/11041008/Ineos-joins-search-for-shale-gas-in-Scotland.html
By Sam Unsted; [email protected]; @SamUAtAlliance
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