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INEOS ENTERPRISES ANNOUNCES INTENTION TO INVEST IN NEW GAS STORAGE FACILITY IN CHESHIREINEOS Enterprises has today announced its intention to invest in a new gas storage facility in Cheshire. This investment will be of national importance by making a significant contribution to the security of gas supplies in the UK at a time when the Government has identified the need for additional gas storage projects to be brought on line. The facility will consist of a number of cavities that will be solution mined (at Holford Brinefields to the north of Drakelow Lane) for the purpose of gas storage, along with a gas compression station (located at Stublach Grange Farm) and associated infrastructure that will connect the facility to the National Transmission System. Subject to the necessary permissions being granted, it is anticipated that the facility will be operational by 2009. The natural geology of Cheshire makes it one of very few places in the UK that are suitable for the development of underground gas storage. The proposed facility will ensure a 'double use' of natural resources both for salt extraction and for the creation of gas storage cavities, thereby meeting a high standard of environmental sustainability. Comments Chris Tane, CEO: "This will represent a major strategic investment by INEOS Enterprises to meet clear national need for increased UK gas storage. Furthermore, as we solution mine the cavities, the brine obtained will help to underpin the long term future of a number of strategic chemical manufacturers in the North West, including INEOS Chlor at Runcorn." INEOS Enterprises has commenced preliminary discussions with the relevant authorities and has begun the process of preparing a planning application that will be submitted to Cheshire County Council later this year. INEOS Enterprises remains fully committed to working with E.ON UK to develop its gas storage facility at Byley. ENDS Notes to Editors INEOS Enterprises consists of a group of six
businesses, each a leader in its area of activity. The Company is
focussed on the developing needs of customers and rapid growth through
investment in new products and manufacturing facilities or by acquisition.
The INEOS Enterprises spirit is entrepreneurial and the Company
is always seeking to invest in new market opportunities. The gas storage facility will be highly compatible
with our existing infrastructure and builds on over 70 years of
proven safe solution mining in the area and over 20 years experience
in the underground storage of natural gas and ethylene. INEOS is already investing heavily in the North West, including a £390 million modernisation programme at INEOS Chlor's operations at Runcorn Site.
For further information please contact the INEOS Enterprises Press Office: Craig Welsh
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