CHEMICAL firm Ineos has bought the majority share of a shale gas exploration licence close to its Grangemouth plant in Scotland.
Ineos has a 51 per cent share of the shale section of the Petroleum Exploration and Development Licence, which is expected to herald the start of the controversial fracking technique, used for extracting underground gas, north of the Border.
The other 49 per cent is owned by Dart Energy.
Fracking has transformed the US energy industry in the past decade, as the natural gas sector has collaborated with government to improve extraction methods.
Ineos recently announced plans to import the shale gas ethane from the US to be used as a feedstock for the Grangemouth plant.
Last week, Teesside chemical company Sabic unveiled a similar scheme aimed at cutting costs and safeguarding hundreds of jobs.
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