Feeds

Lancs shale to yield '15 years' of gas for UK

200 trillion cubic feet of gas will net £6bn in tax

Top three mobile application threats

The Cuadrilla Consortium has published its eagerly expected estimate of shale gas reserves in the North West of England. The group reckons it can extract 200 trillion cubic feet from sites near Preston and Liverpool – more than the current national estimates for Poland.

Assuming a 20 per cent recovery rate, that's enough to meet 15 years of UK demand from just 10 wells. The UK burned through 3.11 trillion cubic feet in 2009, according to the US Energy Information Administration. Current UK production is under 100 million cubic feet, so over 30 years, the North West could double the UK's gas production today.

A bonus would be £5bn to £6bn in UK tax revenue – and energy independence. Eighty per cent of EU member states' gas consumption is imported from Russia via the Ukraine.

There's plenty of room for skepticism – which is generally more about the speed with which the stuff can be extracted, rather than the economic value of the bonanza. The UK doesn't really do onshore gas, and the infrastructure is missing. The US energy market was dramatically transformed by shale, which now generates 20 per cent of its national consumption and has seen the gas price diverge from oil prices for the first time. But the US, with decades of onshore drilling, has scores of companies able to bid for crucial parts of the supply chain.

The UK, by contrast, has a defiantly "can't do" spirit. Environmentalists are the political establishment, and the UK's planning and regulatory regime are designed to make cheap fossil fuel innovation much much more expensive than it need be. ®

High performance access to file storage

More from The Register

next story
KILLER SPONGES menacing California coastline
Surfers are safe, crustaceans less so
LOHAN and the amazing technicolor spaceplane
Our Vulture 2 livery is wrapped, and it's les noix du mutt
KILLER ROBOTS, DNA TAMPERING and PEEPING CYBORGS: the future looks bright!
Americans optimistic about technology despite being afraid of EVERYTHING
R.I.P. LADEE: Probe smashes into lunar surface at 3,600mph
Swan dive signs off successful science mission
Discovery time for 200m WONDER MATERIALS shaved from 4 MILLENNIA... to 4 years
Alloy, Alloy: Boffins in speed-classification breakthrough
Liftoff! SpaceX Falcon 9 lifts Dragon on third resupply mission to ISS
SpaceX snaps smartly into one-second launch window
Elon Musk's LEAKY THRUSTER gas stalls Space Station supply run
Helium seeps from Falcon 9 first stage, delays new legs for NASA robonaut
prev story

Whitepapers

SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.