BRITAIN’S hopes for a shale gas revolution were given a boost yesterday after a top US energy agency said the UK had enough shale gas to fuel the country for almost a decade.
The US Energy Information Administration, an agency of the US Federal statistics agency, estimated Britain had 26 trillion cubic feet of recoverable shale gas and 700m barrels of shale oil based on the methodology used to measure US shale reserves.
Annual UK gas consumption is around three trillion cubic feet, meaning recoverable shale could fuel the UK for nearly nine years.
The government lifted a temporary ban on drilling for shale gas in December after concerns about its geological impact. The government has previously promised a “generous new tax regime” to promote exploration.