November 20, 2014 / 12:37 PM / 3 years ago

Ineos says plans $1 bln investment in UK shale gas

LONDON, Nov 20 (Reuters) - Swiss chemicals group Ineos said on Thursday it planned to invest $1 billion in shale gas exploration in Britain, making it the UK’s biggest player in the sector should it win all the licences.

A vast majority of the onshore exploration and development licences it will bid for are in Scotland and northern England, it said in a statement.

“Substantial further investment would follow if the company moved into development and production,” Ineos said in a statement.

Reporting by Ron Bousso; editing by Jason Neely

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