IGas Energy plc said it hoped to work with the Government and communities to produce shale gas at its licences in the UK.
SCIENCE
The company was responding to today’s message from the Prime Minister on the lifting of the moratorium on hydraulic fracturing in England and a review of energy regulation.
“We have always believed the science, as well as the need for increased domestic production of gas, supports a lifting of the moratorium,” added IGas in a statement.
“The data that we have collected in the Gainsborough Trough over the past five years shows that we have a world class shale gas resource which is now, given the energy crisis, a strategic national asset.”
REGULATION
The company said that its assets could potentially provide secure and affordable energy for the UK in the near term and help to “decouple the UK from volatile and competitive international gas markets”.
IGas also called for a streamlined regulatory process to accelerate development of shale gas.
UK ECONOMY
Chief executive Stephen Bowler added that the UK needed to secure further indigenous supplies of energy to reduce its reliance on imports and reduce spiralling energy prices.
“As well as improving our energy security the development of shale gas in the UK would reduce our carbon footprint, increase tax take, provide tens of thousands of well-paid, highly skilled jobs, a chance to reverse our balance of payment deficit and a means to level up the UK economy.
“We will work together with local communities to deliver this much needed resource in the near term and demonstrate that it can be done safely.”