MOSCOW (MRC) -- Ineos has selected the location for a new ethane tank it plans to build at Grangemouth in Scotland, as per Reuters.
The site is set to be the first chemical plant in the country to receive shale gas from the United States.
The move will supplement declining North Sea supplies, which threatened to close the petrochemical site in October after a dispute with the Unite union.
Imports are expected to begin as early as 2016 after a GBR150 mln investment to an import terminal project.
As MRC informed earlier, in October 2012, Ineos announced it signed an agreement to secure ethane from the US that it will use as a feedstock to operate its steam crackers in Europe. It has agreed a long-term deal with Range Resources Corp. for the lifting of ethane from the Marcus Hook facility, located near Philadelphia, from 2015.
Ineos operates steam crackers in Grangemouth in the UK, Cologne in Germany, Lavera in France and Rafnes in Norway.
INEOS Group Limited is a privately owned multinational chemicals company consisting of 15 standalone business units, headquartered in Rolle, Switzerland and with its registered office in Lyndhurst, United Kingdom. It is the fourth largest chemicals company in the world measured by revenues (after BASF, Dow Chemical and LyondellBasell) and the largest privately owned company in the United Kingdom.
MRC