23 December 2005
Gas giant Ineos has announced plans to build an underground gas storage site in the north of England to help reduce the UK's gas flow problems in the future, according to Reuters.
Britain's current gas crisis has been blamed on production drops in the North Sea fields, but has been exacerbated by the fact that the UK has significantly less gas storage capacity than EU neighbours France or Germany.
Ineos has been in discussion with local authorities near Middlewich, Cheshire, over a proposed site that could be active by 2009.
In a statement Chris Tane, CEO of Ineos, said: "This will represent a major strategic investment by Ineos Enterprises to meet clear national need for increased gas storage."
Britain's biggest current storage site in Rough has been overwhelmed by recent demand for gas as prices continue to soar.
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