A PETROCHEMICAL company which owns a majority share of a Petroleum Exploration and Development Licence that covers Clackmannanshire has bought another major share in a second licence.

In August, Ineos bought a 51 per cent share of the shale gas exploration section of PEDL 133 in an acquisition from the BG group.

The PEDL 133 licence covers 329 square kilometres of the Midland Valley of Scotland which includes most of the Wee County.

The remaining 49 per cent is owned by Dart Energy which is currently awaiting a decision by the Scottish Government on proposals for the production of coal bed methane in 11 locations in the Falkirk area and three in Stirling. A public inquiry was held earlier this year into the plans and last week ministers called in the appeal.

On Monday, Ineos announced it had bought 80 per cent of a second licence covering 400sqkm of the Midland Valley in Scotland, which includes Cumbernauld, from Reach Coal Seam Gas Limited. It will now fund an appraisal of the site to see if the shale gas can be economically extracted and is working with specialists from America to find a way to safely extract the shale gas by way of hydraulic fracturing, or fracking.

The controversial technique involves injecting water, sand and chemicals under high pressure into shale rock or coal beds to create cracks. When the pumping stops, the sand keeps the fractures open and the trapped gas escapes and can be collected.

Opponents claim that fracking can cause earthquakes, as well as creating the risk of poisoning drinking water if it becomes contaminated with the fluids used in the process and adding to pollution.