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Further move to secure energy assets

Ineos ‘in talks’ to acquire more assets in North Sea

Jim RatcliffeChemicals giant Ineos is understood to be in talks about acquiring further North Sea assets.

Negotiations are thought to be focused on a 25% stake in the Clipper South gasfield, which would follow its purchase of a 50% shareholding in the field a few weeks ago. A deal could be announced tomorrow.

It paid $750m deal to buy gas fields from Russian billionaire Mikhail Fridman. It is thought Ineos may be preparing a $1bn-plus acquisition of stakes in oil and gasfields in the Norwegian North Sea owned by Eon.

This latest move is seen as a further attempt by Ineos founder Jim Ratcliffe (pictured) to secure energy supplies for Grangemouth and other assets.

The field is situated 300 miles northeast of Aberdeen and was originally operated by Shell before being sold in 2008.

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