SHARES in IGas jumped over 11 per cent yesterday, after the government indicated that energy companies would be able to explore for shale gas without permission from private landowners.
The planned move will be included in the Queen’s speech in June as part of an infrastructure bill and is aimed at encouraging investment into the UK’s burgeoning shale gas industry.
A government spokesperson said they are “currently considering whether [the existing legal process for oil and gas explorers to apply for access] is fit for purpose”.
Energy firms IGas and Cuadrilla have already begun exploratory drilling for the resource.
“It's a welcome move by government and we await further detail in due course,” said Dart Energy, which holds licences to explore for shale gas in the UK.
IGas, Cuadrilla and the UK Onshore Operators Group declined to comment.