Shale Gas Could Halve UK Imports
From Daily Express
By Tracey Boles
This is according to the head of a London-listed company set to explore for the controversial energy source.
Andrew Austin, chief executive of IGas Energy, already the UK’s largest onshore oil and gas operator, is preparing to drill an appraisal well for gas, including shale gas, in the fourth quarter of this year. His company holds licences for up to six such wells in the North-west’s Bowland shale.
Shale gas is a type of natural gas trapped in sedimentary rock that can be extracted by a process known as fracking.
In the US it has caused an energy revolution by boosting supplies and reducing prices.
However, rival UK explorer Cuadrilla has seen its plans to drill for shale gas in Sussex halted by protests.
Austin said: “If the industry is allowed to grow, it could make material difference to energy pricing. Otherwise, we will be at the mercy of imports and that could lead to high bills and a higher carbon footprint than locally produced gas.”
He believes shale gas has the potential to create a new British industry on the scale of the North Sea developments. Discoveries could turn the North-west, potentially rich in shale gas, into the next Aberdeen, with a jobs boom and a buoyant housing market.
Shale gas has proved controversial due to the fracking process.
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