Feeds

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

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

Boost IT visibility and business value

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. ®

Gartner critical capabilities for enterprise endpoint backup

More from The Register

next story
LOHAN packs bags for SPACEPORT AMERICA!
Spanish launch goes titsup, we're off to the US of A
BAT-GOBBLING urban SPIDER QUEENS swell to ENORMOUS SIZE
But they'd lose a deathmatch against the coming Humvee-sized, armoured Arctic ones
Gigantic toothless 'DRAGONS' dominated Earth's early skies
Gummy pterosaurs outlived toothy competitors
'Leccy racer whacks petrols in Oz race
ELMOFO rakes in two wins in sanctioned race
TRANSMUTATION claims US LENR company
Ten points of stuff out of a five pound bag
Boffins ID freakish spine-smothered prehistoric critter: The CLAW gave it away
Bizarre-looking creature actually related to velvet worms
CRR-CRRRK, beep, beep: Mars space truck backs out of slippery sand trap
Curiosity finds new drilling target after course correction
Astronomers scramble for obs on new comet
Amateur gets fifth confirmed discovery
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?