Oil and Gas News from OilGasDaily.Com  
OIL AND GAS
Tapping shale gas is in the national interest, British government says
by Daniel J. Graeber
Washington DC (UPI) May 17, 2018

The British economy could get a new lifeline by tapping into domestic resources of shale natural gas, the British secretary for energy said Thursday.

"Shale gas development is of national importance," Greg Clark, the British secretary of state for business, energy and industrial strategy, said in a note to Parliament.

The British government estimates shale basins in the country may hold more than 1.3 quadrillion cubic feet of natural gas, a level the government said could help an economy as natural gas imports are on pace to increase from about 45 percent of demand to 76 percent by 2030.

Though efficiency has helped revive a North Sea energy sector faced with maturation concerns, the British economy still depends on foreign supplies. Imports are on pace to account for 72 percent of British gas by 2030, compared with 53 percent last year.

Clark said the mix of liquefied natural gas and imports through Norwegian and European pipelines means the British economy has a stable source of supply.

"However, we believe that it is right to utilize our domestic gas resources to the maximum extent and exploring further the potential for onshore gas production from shale rock formations in the United Kingdom, where it is economically efficient, and where environment impacts are robustly regulated," he said.

Cuadrilla Resources is on schedule to carry out the first-ever hydraulic fracturing effort in the United Kingdom in the third quarter of this year. There is no benchmark yet for drilling into shale basins in the country and Cuadrilla was the target of widespread protests from opponents of hydraulic fracturing.

The British government has sided in favor of oil and gas companies and in 2016 published a 600-page ruling that said shale natural gas work in the country was a national interest.

According to industry trade group U.K. Onshore Oil and Gas, total British energy production has been on decline for nearly two decades. That trend could be reversed with onshore shale gas production, which could protect the British economy from external shocks.

Ken Cronin, the chief executive at the trade group, said money paid for imports isn't driving the domestic economy forward. To achieve a domestic gas sector, the government needs a policy framework to support the fledgling industry.

"Today's announcement goes some way to ensuring that our energy security is protected and the benefits we have already seen flowing into communities become much more widespread," he said in a statement.


Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


OIL AND GAS
Equinor, formally Statoil, opens trading on the Oslo exchange
Washington DC (UPI) May 16, 2018
Shares in Equinor, the company formally known as Statoil, started trading Wednesday for the first time on the Oslo stock exchange, it announced. The company is trading under the ticker symbol EQNR on the Oslo exchange. Implementation of the change takes place on the New York Stock Exchange on Thursday. The board of directors approved of the name change from Statoil to Equinor ASA during Tuesday's annual general meeting. The board of directors in March proposed the name change - d ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Toward organic fuel cells with forest fuels

World's strongest bio-material outperforms steel and spider silk

Solar powered sea slugs shed light on search for perpetual green energy

Novel approach for photosynthetic production of carbon neutral biofuel from green algae

OIL AND GAS
NYSERDA Announces $10 Million Available to Launch New Cleantech Accelerator

Kyocera TCL Solar Completes 29MW Solar Power Plant on Repurposed Land in Japan

Team achieves two-electron chemical reactions using light energy, gold

NEXTracker sales surge for Series 6 Mounting Systems across 600MW of new projects

OIL AND GAS
German utility E.ON sees renewable sector growth

Germany's E.ON wants even bigger wind footprint

US renewables firm takes Poland to court over U-turn on windmills

New control strategy helps reap maximum power from wind farms

OIL AND GAS
Demonstration proves nuclear fission system can provide space exploration power

Framatome and Vattenfall sign contracts for the delivery of fuel assembly reloads

Balancing nuclear and renewable energy

Framatome receives two patent awards for nuclear innovations

OIL AND GAS
Projecting climate change along the Millennium Silk Road in a warmer world

Lives in the balance as UN debates climate finance

In ancient rocks, scientists see a climate cycle working across deep time

Earth's orbital changes have influenced climate, life for at least 215M years

OIL AND GAS
How even one automated, connected vehicle can improve safety and save energy in traffic

Tesla reorganizing to speed up production

Finnish robot car aims for 24/7 driving - also sees through fog

Tesla chief defends self-driving cars after new crash

OIL AND GAS
Iraq says election candidate killed in family dispute, after IS claim

After war against IS, Iraq fighters target election victory

Iraq's displaced forgotten in elections

Iraq's top Shiite authority urges voters not to re-elect 'corrupt' MPs

OIL AND GAS
Worked to the bone: South Korea's elderly

US ready to offer North Korea security assurances, investment: Pompeo

N. Korea to destroy nuclear site ahead of US summit: KCNA

US offers to work with Europe on new Iran deal, holds out sanctions threat









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.