Ineos plans to destroy Britain’s water reserves

Ineos to invest £640m in UK shale gas exploration

Grangemouth

Ineos has made no secret of its interest in shale gas

Chemicals giant Ineos has announced plans to invest up to £640m in shale gas exploration in the UK.

The company plans to use the gas as a raw material for its chemicals plants, including Grangemouth in Stirlingshire.

Grangemouth is currently running at a loss, but Ineos believes shale gas will transform the economics of the plant.

Shale gas extraction is promoted as an important potential energy source, but has sparked opposition from environmental groups.

Ineos chairman Jim Ratcliffe said he wanted his company “to become the biggest player in the UK shale gas industry”.

The firm added that “substantial further investment would follow if the company moved to development and production”.

Exploration rights

Shale gas is extracted through a technique known as fracking, or hydraulic fracturing, in which water and chemicals are pumped into shale rock at high pressure.

Numerous anti-fracking groups have formed and protests have been staged at several sites over fears of earthquakes, water pollution and environmental damage.

fracking graphic

Ineos is currently building Europe’s largest shale gas import facility to feed its petrochemicals plant at Grangemouth – but it wants to produce home-grown shale gas as well.

In recent months it has been buying up rights to explore across hundreds of square miles of the Midland Valley around the Stirlingshire site.

Ineos is also thought to have applied for further licences as part of the government’s ongoing onshore licensing round.

Safety ‘skills’

The company outlined plans on Thursday to invest $1bn (£640m) in UK exploration.

“I believe shale gas could revolutionise UK manufacturing and I know Ineos has the resources to make it happen, the skills to extract the gas safely and the vision to realise that everyone must share in the rewards,” said Mr Ratcliffe.

BBC industry correspondent John Moylan said the move will be seen as a significant vote of confidence in the sector, and will position Ineos as one of the major players in the emerging industry.

But, he added, it will also put Ineos in the sights of protesters who believe shale gas and fracking are dangerous and harmful to the environment.

A spokesman for Greenpeace UK characterised Ineos’ investment as “giant speculative bets on unproven and risky resources”.

“It seems that Ineos have based their business plan on breathless PR brochures rather than scientific reports,” he added.

‘Transparent bribe’

Earlier this year, Ineos announced plans to hand over up to £2.5bn of shale gas revenues to communities close to its wells.

Shale gas sites in UK

The company has bought the licence for shale gas exploration and development across a 329sq km area around its Grangemouth power plant.

It will give away 6% of revenues to local homeowners and landowners.

However, Friends of the Earth Scotland criticised the move as “a transparent attempt to bribe communities”.

The British Geological Survey has estimated there are “modest” shale gas and oil resources in the area.

Fracking is used extensively in the US where it has revolutionised the energy industry.

The Scottish government has called for devolved powers on fracking after the UK government decided to press ahead with plans to let companies drill at depths of 300m below private land without consent.

Analysis: John Moylan, BBC Industries Correspondent

This sounds like a huge investment by Ineos.

But any firm wanting to bring shale gas from the exploration stage through to full production will have to spend hundreds of millions of pounds.

An industry report earlier this year suggested that a single shale gas production site with 10 wells might cost as much as £350m. So firms intending to have multiple gas production sites will have to spend eye-watering sums.

But the timing of this announcement is key. The government is currently assessing applications made by operators for new onshore licences to explore for shale gas.

Firms have to demonstrate that they have the cash and know-how to exploit a license area. If this has been a competitive license round – and there’s a suggestion that this is the case – then firms like Ineos will have to lobby hard to ensure they get the areas that they want.

There could be more announcements like this from other industry players in the weeks and months ahead.

Sent in by Gordon

 

TAP – share prices of shale gas companies like I-Gas are tumbling.  The industry is an economic catastrophe.  The reason it’s being pushed is to do with water.   Alternative energy technologies are available in droves.  Only careful suppression has kept them from taking over from traditional fuels.  Once they are out, the oil business and the other hydrocarbons will be history.  The powers that be have planned how to deal with this.  Make water into the next oil business.  Destroying easily accessible water reserves will have to come first.  That’s what fracking is all about, taking the toxic gases under the earth and delivering them into the water table above.  Only once all water reserves are gone will the ‘utility’ business really come into its own.  Fracking also consumes endless millions of gallons of water, which are depleting lakes and underground water basins worldwide.

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5 Responses to “Ineos plans to destroy Britain’s water reserves”

  1. Jason H. Smith says:

    By making our water supply unusable, it proves that this is merely a front for a massive depopulation programme! We have the ability to produce infinite supplies of cost-free extraction energy through cold fusion; but this technology, as everyone must surely know, has long been suppressed.

    • Gordon says:

      How right you are!

      Let’s not forget that Scotland’s Central Belt contains two thirds of its population which will equate to mass genocide or mass extinction however which way you wish to look at it.

      Scotland has copious amounts of water and Scotland is home to 1.5 gigawatts (GW) of hydro power capacity, enough to power the equivalent of more than 900,000 homes. Electrical output from hydro schemes in Scotland in 2012 was more than r 4.8 gigawatt hours, the equivalent to over 12.5% of Scotland’s electricity consumption. The majority of this capacity was built in the mid-20th century, driven by the then Secretary of State for Scotland Tom Johnston’s ‘Power from the Glens’ campaign. These sites still generate renewable power today and are complemented by a growing number of smaller scale hydro schemes.

      All the Fracking promises of cheaper energy prices, jobs and community paybacks are false promises at the expense of Fracking round the clock production producing noise, ecological and environmental pollution effectively blighting and devaluing properties and homes throughout the land.

      I’m old enough to tell you I recall the same great visionaries of the forties and fifties proclaimed the same fallacies regarding clean – free Nuclear Energy which amounted to nothing more than hot air.

      The creation of Fracking jobs involves specialists already within the oil and gas industry brought in from other parts of the country or countries while the small number of local manual labour will be back on the dole looking for work within three to five years as wells run dry.

      Living in the unaffected Borders as shown on the proposed Fracking map I can’t but help ask myself why the Borders is not being Fracked? It may very well be that the geology isn’t appropriate for Fracking but on the other hand I can’t help but think that wealthy land owners such as the Duke of Roxburgh of Roxburgh Estates, deceased owner of the Hirsel Estate and former Prime Minister Sir Alex Douglas Hume, Lord Palmer of Manderston Estate, Lord Minto of Minto Estate and others have had a hand in keeping the Borders Frack free,

      The mind boggles!

  2. John says:

    I’ve just been checking Google maps East of Manchester. On the map in this article there’s a blue line going across country with what looks like an epiglottis hanging down. Without a closer inspection it looks to me that that area is down to the Hope Valley. Which would cover all the water reservoirs in the Pennines. So you would be correct with your assumptions water is the target!!!
    John

  3. sovereigntea says:

    Water is very likely the target as the price of oil & thus gas plummets this becomes increasingly clear.

    Dont forget to call Interpol if you suspect an environmental crime is taking place. http://www.interpol.int/News-and-media/News/2014/N2014-220

    17 November 2014
    INTERPOL seeks public assistance to locate environmental crime fugitives in global operation

    LYON, France – An INTERPOL operation targeting fugitives wanted for environmental crimes is calling on the public worldwide to help locate them and bring them to justice.

    Operation Infra (International Fugitive Round Up and Arrest) Terra was launched by the world police body on 6 October, focusing on 139 fugitives wanted by 36 member countries for crimes including illegal fishing, wildlife trafficking, illegal trade and disposal of waste, illegal logging and trading in illicit ivory. It is the first INTERPOL fugitive operation targeting individuals specifically wanted for crimes concerning the environment.

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