"Shale gas economics has revitalised US manufacturing. When US shale gas arrives in Europe, it has the potential to do the same for European manufacturing," Ratcliffe said in a statement given to Sputnik.
The company added that the supply of US shale gas to Europe would "complement" the reducing gas production in the North Sea.
INEOS owns one of the United Kingdom’s largest refineries at Grangemouth. It has secured shale gas exploration licenses for 700 square miles of Scotland. The company says it wants to invest 640 million pounds ($910 million) in fracking despite the Scottish government’s moratorium that bans exploratory work.
More about:
-1780923278.jpg&h=190&w=280&zc=1&q=100)
