It could do the same for the UK and Europe.
Hydraulic fracturing has led to a manufacturing renaissance in America. Now it is looking longer term and is seeking to access indigenous gas from UK shale. From next year it will start shipping competitively-priced ethane from US shale gas to its gas crackers in Europe. But as many wait for a political solution, INEOS is taking action, now, to protect its business before it is too late. The issue is widely acknowledged by those manufacturing businesses trying to compete in global markets. In addition, across Europe, spiralling energy costs continue to threaten the very future of its petrochemical industry.
Dwindling supplies of ethane gas from the North Sea has threatened the competitiveness of INEOS manufacturing units in Grangemouth (Scotland) and Rafnes (Norway).
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