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Ineos takes position in UK shale, plans local pay-outs

September 29, 2014 00:00:00


LONDON, Sept 28 (Reuters) :  Swiss-based chemicals group Ineos has acquired a stake in a shale oil and gas licence in Scotland and plans to pay a share of revenues from any production to landowners and communities, Britain's energy ministry said in a statement.

Britain is in the early stages of extracting shale gas resources to lower its dependence on energy imports, but exploration to see whether the resources are commercially viable has been slow amid strong local opposition.

"Ineos will give 6 per cent of production revenue to landowners and communities, split 4 per cent and 2 per cent respectively," Britain's Department of Energy and Climate Change (DECC) said in a statement on Sunday. "It's not unusual for energy companies to make payments to communities; people local to wind farms receive payments too."

The government has already tried to placate local opposition to shale gas and the controversial process of fracking - pumping high pressure chemicals into the ground - used to extract it, by offering benefits to those living nearby.


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