Ineos to invest £640m in UK fracking CHEMICALS giant Ineos is to invest hundreds of millions of pounds in shale gas exploration, giving the industry a huge boost. The company will unveil plans later today to press ahead with its previously announced intention to produce shale gas for its plant in Grangemouth, Scotland. Shale gas is extracted through a technique known as fracking, in which water and chemicals are injected into rock at high pressure. The process is hugely controversial and has sparked protests at several sites across the UK. Richard Dixon, director of Friends of the Earth Scotland, said: "The Scottish Government have taken a very cautious approach to unconventional gas and fracking, unlike the UK Government. With much tougher planning rules, more ambitious climate targets and a review of both health issues and licensing under way, Scotland is the last place any company should apply to frack. More details to follow... MD assures Ineos are in it for the long haul