Shale Gas could move import dependency out for 10 to 15 years
UK Shale gas explorer IGas says its licence area in northwest England could hold enough gas to meet the country’s entire consumption for over five years.
Andrew Austin, chief executive, said that the potential volumes could change Britain’s energy balance. He commented, “We (Britain) import around 1.5 trillion cubic feet, we consume around 3 trillion cubic feet a year, assuming you could recover technically something like 10pc to 15pc of the shale gas in place, then it could move import dependency out for about 10 to 15 years”.
According to government figures, the UK’s total current proven, probable and possible gas reserves stand at around 25 trillion cubic feet, including 17 trillion cubic feet of proven and probable gas.
Read the full story here: BBC – Enough shale gas to change UK energy balance, says IGas