The petrochemicals giant with ambitions to become the UK’s largest fracker has hit out at a Westminster committee’s call for a moratorium on the practice.
The cross-party Environmental Audit Committee warned at the weekend that extensive unconventional shale gas production was incompatible with Britain’s ambitious greenhouse gas targets.
The group also called for fracking to be banned in protected areas such as national parks, sparking a major debate at Westminster.
The committee’s findings were rubbished as a “missed opportunity” by Ineos, the Swiss-headquartered petrochemicals firm which is progressing plans for a £640 million investment in the sector.
The company already has two licences near its plant at Grangemouth on the Forth and is applying for more in Scotland, where much of the shale reserve is focused on the Central Belt, and the north of England.
Ineos yesterday alleged the EAC refused to engage with it during its evidence-gathering sessions and had produced a biased report.
“The committee deliberately sought out views that focused on concerns about water quality, emissions and geological integrity and so produced a partisan and partial report,” Ineos director Tom Crotty said.
“The committee refused to see Ineos and didn’t look hard enough at the massive decline in the UK’s manufacturing base and the country’s desperate need for shale gas to reduce energy costs and revitalise industry.”
Ineos said more than one million shale gas wells had been drilled in the USA, leading to a manufacturing renaissance which brought jobs and prosperity to the country.
The firm said it was convinced a similar energy boom could be achieved in the UK and that the rewards would benefit the entire country.
“The UK needs shale gas and we know that Ineos has the skills to safely extract it from the ground without damaging the environment,” Mr Crotty continued.
“We have committed to consultation with local communities and to give them 6% of the entire revenue from our shale gas wells. Without shale gas UK manufacturing will start to collapse, so we need to kick-start the shale gas industry not put it on hold.”
Last night, MPs at Westminster voted against an amendment to follow the EAC’s recommendation and introduce a moratorium on hydraulic fracturing.
Ken Cronin, chief executive of UK Onshore Oil and Gas, said: “It is good news that MPs have rejected the misguided attempts to introduce a moratorium on hydraulic fracturing.
“Most of the amendments agreed are in line with best practice in the industry or codify the directions of regulators, which the industry would naturally comply with.
“We now need to get on with exploratory drilling to find out the extent of the UK’s oil and gas reserves.”