U.S. Shale Surge Saves Dying Chemicals Plant 3,300 Miles Away
- Ineos replacing dwindling North Sea supply with Marcellus gas
- Grangemouth chemicals plant was losing money `hand over fist'
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The U.K.’s largest closely held company has U.S. shale to thank for its survival.
Ineos Group Ltd., which manufactures chemicals used to make jet fuel to yogurt pots, was running equipment at its biggest plant, in Grangemouth, Scotland, at less than half capacity. That’s because its sources of raw materials -- oil and gas fields in the North Sea -- were depleting and the volume of fuel heading to the facility dwindling.