INEOS acquires full fracking rights in central Scotland as part of a £30 mln deal

Ineos will buy out IGas’ interest in the shale gas licence, in a deal which covers 127 sq miles for £30 mln. Currently, governments in Scotland and UK have imposed a moratorium on the drilling technique used for extracting oil or natural gas from deep underground. If the current restrictions are lifted, Ineos will have full control over fracking opportunities in an area of Scotland long associated with heavy industry, as per telegraph.co.uk. The acquisition of 100% of the shale gas exploration licence by Ineos came after the company bought a 51% stake last year for the area.