An eye-catching new report by the British Geological survey has estimated there is 1,300trn cubic feet of natural gas buried in shale rock beneath northern and central England, higher than previous assessments. Government ministers warn that recoverable levels will be far lower, but it is nevertheless becoming clear that the UK has the potential for a US-style shale gas boom. At a time when power sources are being decommissioned and major carbon reduction targets are approaching, shale gas could play a vital part in the UK's pressing energy security need. Despite the arguments for tapping into shale gas' potential to plug the energy gap now, the European Commission, while appearing to look upon shale developments in a positive way, has mooted the possibility of an EU-wide regulatory framework.
July 18, 2013 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Despite the public’s fears about the risks, Britain already has some of world’s toughest environmental laws
An eye-catching new report by the British Geological survey has estimated there is 1,300trn cubic feet of natural gas buried in shale rock beneath northern and central England, higher than previous assessments. Government ministers warn that recoverable levels will be far lower, but it is nevertheless becoming clear that the UK has the potential for a US-style shale gas boom.
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