Chemical Giant To Invest In UK Shale Gas Extraction

Ineos is to invest around £640m ($1bn) in shale gas exploration and production in the UK, according to a report by the BBC.

It is understood the company plan to use the gas as a raw material in its chemical plants such as Grangemouth.

According to the report, Grangemouth is currently operating at a loss but it is believed that shale gas could "transform" the fortunes of the plant.

The possibility of fracking in the UK has raised concerns and led to protests.

Campaigners say that fracking – a process by which gas is extracted when water and chemicals are pumped at high pressure into shale rock – could lead to earthquakes, water pollution and environmental damage.


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