18-08-2015
INEOS awarded three new shale gas licenses from the UK government
INEOS has today been awarded three new Petroleum Exploration and Development Licenses covering a total area of approximately 250 km2 in the East Midlands. This additional acreage cements INEOS position as one of the UK’s leading shale gas businesses.
The Department of Energy and Climate Change (DECC) awarded these new licenses in the first of a number of announcements from its 14th Licensing Round.
“INEOS welcomes the announcement by the UK Government today and the significant support from DECC to move this important industry forwards,” says Gary Haywood, INEOS Shale CEO. “Shale gas is a once in a lifetime opportunity that the UK cannot afford to miss. North Sea oil created great wealth for the UK and shale gas can do the same. It will help secure manufacturing, deliver investment and create thousands of jobs, provide us with greater energy security, and help us to meet our climate change obligations using our own home-grown source of energy.”
INEOS Shale is INEOS’ new on shore oil and gas exploration and production business. The business made its first move into the shale exploration one year ago on the 18th August with the purchase of a share of the shale section of PEDL 133 from Dart Energy. It has grown rapidly, and now has the third largest portfolio of shale gas assets in the UK. Today’s announcement is a further significant step for INEOS in its plan to become the leading player in the UK shale gas industry.
The first tranche of licenses awarded today cover licence blocks that have been screened out as not requiring further environmental assessment under the Conservation of Habitats and Species Regulations 2010. The Habitats Directive, a screening assessment is being carried out on remaining blocks applied for in the 14th Round. As a result, blocks applied for which are close to or in certain Special Areas of Conservation (SACs) and Special Protection Areas (SPAs) will be subject to further environmental assessments before any offer is made. Announcements of the second tranche are expected later this year.
Gary Haywood adds, "We are keen to move quickly to evaluate the potential of this resource, and determine if we can economically produce gas from our licenses. This will depend on the pace of planning approval. If we can, it will provide a local source of competitive energy and raw materials to support manufacturing jobs in the UK. Our recent commitment to share the revenue of the gas production with the landowners and the community will also bring significant local benefits."
INEOS continues its community engagement programme, aiming to speak directly to people about this important issue and dispel as many of the untruths and the myths about shale gas production as possible.
News Category:
-
Beyond processbook & PI vision: Exploring today’s industrial analytics tools
(Webinar) - In the Manufacturing 4.0 era, industrial organizations have more data at their fingertips than ever, offering the promise of higher production rates, more ...
04-06-2024
-
Sasol provides state of the art catalysts to INERATEC for the production of sustainable e-fuels
The catalysts will be used, among others, in the first large-scale industrial Power-to-Liquid (PtL) plant that INERATEC is currently building in Frankfurt, Germany, which ...
24-04-2024
-
Baker Hughes to supply 17 centrifugal compressors to Saudi Master Gas System project
Baker Hughes, an energy technology company, announced Tuesday that it has received an order by Worley, for and on behalf of Aramco, to supply gas technology equipment ...
23-04-2024
-
SABIC Fujian Petrochemicals select Phenol yechnology from KBR
KBR announced today it has been awarded a contract by SABIC Fujian Petrochemicals to license KBR's market-leading phenol technology in China. Under the terms of the ...
22-04-2024
-
Lummus Expands R&D capabilities to enhance innovation and water and wastewater technologies
Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced the opening of its cutting-edge research and development (R&D) ...
17-04-2024
-
Clariant launches new CATOFIN® 312 propane dehydrogenation catalyst
Clariant, a sustainability-focused specialty chemical company, today announced the launch of CATOFIN 312, its latest propane dehydrogenation catalyst. The new catalyst ...
16-04-2024
-
Yokogawa and GridBeyond conclude investment and strategic partnership agreements
Yokogawa Electric Corporation and energy IT solutions provider GridBeyond of Ireland announce that they have concluded a strategic partnership agreement. Furthermore, ...
16-04-2024
-
Heraeus Precious Metals launches Circlear
Heraeus Precious Metals, a globally leading company in the precious metals industry and one of the largest recyclers of precious metals, has introduced its new offering ...
16-04-2024
-
EMA and JERA to cooperate on LNG procurement and supply chains
The Energy Market Authority and JERA Co Inc, have signed a Memorandum of Understanding to cooperate on mutually beneficial areas in liquefied natural gas procurement ...
16-04-2024
-
Hexagon and Dragos unveil technical partnership to strengthen industrial cybersecurity
Hexagon’s Asset Lifecycle Intelligence division today announced a strategic partnership with Dragos, a global leader in cybersecurity for operational technology (OT). ...
16-04-2024