Scottish Conservative Energy Spokesmen and MSP for Mid-Scotland and Fife, Murdo Fraser, has welcomed Ineos plans to invest £640 million in Shale gas exploration.
The company plans to use the gas as a raw material for its chemicals plants, including Grangemouth. The company has bought the licence for shale gas exploration and development across a 329sq km area around its Grangemouth power plant.
Grangemouth is currently running at a loss, but Ineos believes shale gas will transform the economics of the plant.
Earlier this year, Ineos announced plans to hand over up to £2.5bn of shale gas revenues to communities close to its wells.
Murdo Fraser MSP said:
“Shale gas is a huge opportunity for Scotland and it is good to see that Ineos are intent on exploiting its potential.
“Ineos have recognised that the future of Grangemouth is dependent on cheap shale gas imports or if possible a domestic supply.
“On our doorstep we have a source of energy that has the potential to increase our energy independence, create jobs, reduce carbon emissions and lower fuel poverty and the Scottish Government need to get on-board and create the right conditions for fracking.
“Westminster is doing all it can to help the development of shale gas and I believe that we should be taking a similar approach in Scotland.”