The United Kingdom has more shale gas than previously thought, a new study has found.
An assessment by the British Geological Survey (BGS) released yesterday shows that gas trapped in deep-lying shale rock formations could amount to as much as 2,281 trillion cubic feet (tcf) in central Britain alone.
But it is the median estimate of 1,329 tcf that was leaked to the press before the release of the report that is regarded as the most credible.
The BGS report assesses the shale potential of the Bowland-Hodder study area that covers many of England's northern cities, including Manchester, Liverpool and Leeds.
The new assessment is significantly higher than previous estimates. The BGS makes no predictions on how much of these resources are recoverable, however.
Resources are always greater than the amount of gas that can ultimately be produced, and recovery rates depend on a variety of factors. For now, the lack of exploratory drilling means that too little is known about the geology in which the gas is contained, making an estimation of recoverable reserves impossible.
"In time, the drilling and testing of new wells will give an understanding of achievable, sustained production rates," the report reads. "These, combined with other non-geological factors such as gas price, operating costs and the scale of development agreed by the local planning system, will allow estimates of the UK's shale gas reserves to be made."
Shale gas is brought to the surface after hydraulic fracturing, or fracking, has flooded the rock formations with a mix of water and chemicals. This production method has drawn heavy criticism from environmentalists, who fear the risk of earthquakes, water contamination and the escape of methane gas into the atmosphere.
In the United States and Canada, shale gas is produced extensively, and has brought gas prices crashing down. The UK has to import much of its gas, paying hefty premiums particularly for liquefied natural gas (LNG) imports. This has prompted the government to take a close look at the UK's shale gas potential, and has led the chancellor, George Osborne, to call for a "dash for gas".
Analysts have criticised the chancellor's enthusiasm for shale gas, as "it ignores the very real barriers to shale gas development in the UK and Europe more generally", according to Paul Stevens, a senior research fellow at Chatham House.
Apart from a high clay content in British soil, the UK's population density is higher than in the US, where a highly developed oilfield services industry and extensive infrastructure facilitated the shale revolution. The tax breaks available to US shale producers are absent in the UK, notes Mr Stevens.
So far, Cuadrilla is the only company drilling for shale in the UK.
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Major honours
ARSENAL
BARCELONA
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- Copa del Rey - 2012
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CHELSEA
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SPAIN
- World Cup - 2010
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The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
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Army of the Dead
Director: Zack Snyder
Stars: Dave Bautista, Ella Purnell, Omari Hardwick, Ana de la Reguera
Three stars
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Super 30
Produced: Sajid Nadiadwala and Phantom Productions
Directed: Vikas Bahl
Cast: Hrithik Roshan, Pankaj Tripathi, Aditya Srivastav, Mrinal Thakur
Rating: 3.5 /5
The specs
Engine 60kwh FWD
Battery Rimac 120kwh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry
Power 204hp Torque 360Nm
Price, base / as tested Dh174,500
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
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NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5