INEOS has welcomed the UK Government’s plan to fast track shale gas planning applications whilst ensuring that local people continue to have a strong say on the development of shale gas exploration in their areas.

This positive early action should help break the log jam that has developed in some areas of the country and give first mover advantage to those communities willing to quickly embrace the shale gas revolution.

INEOS has committed to give 6% of revenues (2% to communities and 4% to land and home owners) to those directly above shale gas wells.

INEOS believes that its knowledge and expertise in running complex petrochemical facilities coupled with its world class sub surface expertise makes it a natural leader in the UK’s shale gas revolution.

INEOS has no doubt that this move will help England in particular, as a first mover in Europe, build a large and successful indigenous shale gas industry creating jobs future export opportunities.

About INEOS

INEOS is a global manufacturer of petrochemicals, speciality chemicals and oil products. It comprises 15 businesses each with a major chemical company heritage. Its production network spans 51 manufacturing facilities in 11 countries throughout the world.