French energy supplier Total set to invest in UK shale gas exploration
Although the amount of shale gas available in the UK is still the topic of debate, it would seem that more and more energy suppliers are becoming in the country’s potential for successful exploration, the latest to join the fray being French energy giant Total.
According to a news report on the matter, Total has approached several companies about buying a stake in their existing exploration blocks in the UK, which is a sign of the industry’s growing momentum, and paints a very positive picture in terms of what we should expect from this field in the near future.
As ministers are preparing to unveil details of incentives for communities affected by fracking in a further attempt to encourage swift exploration of Britain’s shale resources, which they believe have the potential to provide an important new source of gas to the UK.
Companies such as Cuadrilla gained drilling access in the 2008 licensing round, in which companies such as Total took little interest, but the French energy giant now has a Paris-based team assessing shale gas options across Europe and is understood to be considering all options in the UK.
Unfortunately, as most of the energy suppliers’ representatives have acknowledged thus far, widespread use of shale gas across the UK is not likely to affect energy bills in a positive manner (although it might prevent them from sky-rocketing, by helping the country relay on internal resources, rather than imports).
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