Ineos pledges to invest $1-billion in UK shale gas

摘要

Ineos today pledged to invest $1 billion in UK shale gas exploration and appraisal if it wins all the shale gas licenses it has applied for. The company held a rare press conference in London, fronted by Jim Ratcliffe, Ineos’s founder and chairman, Tom Crotty, director, and Garry Haywood, CEO of Ineos Upstream, to announce its plans to become the biggest player in the UK shale gas industry. Ineos Upstream, a new unit within the group that focuses on the UK, has assembled a team of experts from the United States with a wealth of knowledge of the industry to help implement the plans. The experts, who will act as consultants to Ineos Upstream for an initial period of five years, all worked for Mitchell Energy, a privately owned company that pioneered the commercialization of shale gas and spearheaded its global surge as financially viable energy source. They are Nick Steinsberger, Dan Steward and Kent Bowker.