“As part of our long-term plan to build a more resilient economy, create jobs and deliver secure energy supplies, we continue to back our onshore oil and gas industry and the safe development of shale gas in the U.K.,” British Energy Minister Nick Bourne said.
With natural gas imports expected to account for 76 percent of total demand by 2030, the British government said it was fast-tracking the permit processes for shale exploration.
“It’s important we press on and get shale moving, while maintaining strong environmental controls,” Bourne said. “Investment in shale could reach $51.5 billion and support 64,000 jobs, creating financial security for hardworking people and their families, while providing a cost-efficient bridge to lower carbon energy use.”
As shale gas is relatively recent in the country, public concerns have increased as the environmental groups have expressed reservations about shale exploration.