Extracting shale gas is fully consistent with tackling climate change and could have wider benefits for the UK. It is not about using more fossil fuel, but displacing coal, and using our own gas rather than imports, to deliver decarbonisation in the most effective way for the UK.
INEOS is one of the UK’s largest manufacturing businesses. It employs 4000 people in the UK across 7 sites. It can use shale gas at its manufacturing sites as a feedstock or energy source. Coupled with INEOS’ clear manufacturing excellence, strong safety focus and good relationships with the communities in which it operates, means that its new oil and gas exploration business INEOS Shale brings something unique to the emerging shale gas industry.
Shale gas is the same as North Sea gas. They are both the natural gas that we use to heat our homes. Shale gas is simply gas formed in Shale formations 1-5km underground. Shale gas will make us less dependent on imported gas from Europe and The Middle East.
Having reviewed the available evidence, the Royal Academy of Engineering have concluded that shale gas can be extracted safely with appropriate regulation. Extracting shale gas is not risk free and has to be done carefully, but the risks are manageable and comparable to other practices.
Gas is needed in the medium term to meet our energy needs responsibly. The UK is committed to reducing emissions by 80% by 2050 and has ambitious policies in place to promote renewables and nuclear, such as the Carbon Price Floor and Contracts for Difference.
In the UK its sites are strictly Regulated by the Health Safety Executive (HSE), the Environment Agency (EA) and the Scottish Environment Protection Agency (SEPA), under COMAH (Control Of major Accidents Hazards) regulation.
As with any drilling or construction operation there can be a period of disturbance and inconvenience to the local community. INEOS will endeavour to minimise this through careful site selection, community liaison and activity management procedures.
INEOS is currently undertaking a shale gas information programme in communities in the Midland Valley and, in addition to face-to-face conversations at the exhibitions it has presented a series of information leaflets and video’s.