Ineos gas deal

PETROCHEMICAL group Ineos has completed its deal to buy North Sea gas fields from German firm DeA Deutsche erdoel.

The fields in the southern North Sea provide up to 8pc of the UK’s gas and are close to Ineos’ assets in the North east and Scotland.

Ineos says that it is buying the gas fields as part of its plan to become a ‘UK player in onshore gas development’.

DeA’s subsidiary L1 energy sold the business and its people and infrastructure will transfer and become part of Ineos’s Breagh business division.