British government gives shale gas green light

ONDON, April 24 (Xinhua) -- The British government said it's time to get ready for shale gas after a supply chain report showing huge potential economic benefits to the country's economy on Thursday.

 

Shale gas could create a new onshore supply chain market for equipment, services and skills across a number of industry sectors worth up to 33 billion pounds (55 billion U.S. dollars) by 2032, creating over 64,000 jobs, according to the global advisory company EY's report published on Thursday by trade body United Kingdom Onshore Operators Group.

 

"It's time to get ready for shale," said British Business and Energy Minister Michael Fallon, "This government is fully committed to ensuring the UK not only benefits from the energy security shale gas could provide but also maximising the economic benefit across the country."

 

The report set out industry sectors that could benefit from shale development, which include: specialised equipment and skills for hydraulic fracturing operations worth 17 billion pounds; Waste management, storage and transportation requirement of 4.1 billion pounds; Steel requirement of 2.3 billion pounds; and New rig manufacturing industry worth 1.6 billion pounds.

 

British Energy and Climate Change Secretary Ed Davey said: "Over the past year the scientific evidence has allowed us to conclude that shale production can be managed effectively as long as best practices are implemented and enforced."

 

British government also announced 2 million pounds competition to support innovative ideas to produce or explore for shale gas, particularly focused on projects reducing environmental impact. (1 pound = 1.68 U.S. dollars)