Britain's shale gas estimations double
Shale deposits in the United Kingdom are thought to be double previous estimates, encouraging a new era of natural gas for Britain
New estimates of the UK's reserves of shale gas have today been published as Danny Alexander, Chief Secretary to the Treasury, announced the news.
The deposits of shale, a natural gas occuring under much of Europe, the Americas, Africa, Australia and in the East, could potentially supply the United Kingdom with over a decade worth of natural gas.
The news, from the British Geological Survey has revealed that around 1300 trillion cubic feet of shale could be found under Britain - double the previous estimations.
Alexander today announced, "Thanks to the hard work of my colleague the Secretary of State for Climate Change, we are ready to unleash the energy revolution our country needs.
"Today’s news from the British Geological Survey confirms the huge potential that shale gas has for the UK – 13 hundred trillion cubic feet, double previous estimates.
"And the plans we set out today provide the framework to kick-start this industry in a way that protects the environment and supports local communities.
"As well as revolutionising the way we get our energy, we are transforming how we generate and supply it too."
The Daily Telegraph reported that the French energy giant Total is considering bidding for rights to explore for shale gas in Britain and is "frustrated" by a lack of information on a licensing round to be held next year.
Britain is Europe's largest gas consuming nation, however it is not yet known whether shale gas can be produced economically.
The British government is keen to reduce the country's dependence on gas imports from countries like Norway and Qatar, as imports are due to surpass gas from domestic North Sea production by 2015.
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