Arab Today, arab today centrica buys stake in british shale gas licence
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

Centrica buys stake in British shale gas licence

Arab Today, arab today

Arab Today, arab today Centrica buys stake in British shale gas licence

London - AFP

British energy company Centrica said Thursday that it has agreed to purchase a 25-percent stake in a shale gas exploration area, becoming the first major to move into the country\'s shale sector. Centrica said in a statement that it would pay £40 million in cash to peer Cuadrilla Resources and Australian firm AJ Lucas to become an investment partner in the Lancashire Bowland licence area. It has also committed another £60 million in exploration and appraisal costs. Cuadrilla is one of a small number of companies exploring Britain\'s shale gas potential and estimates there are huge supplies in its licensed areas. The Bowland licence is operated by Cuadrilla, and three exploration wells have been drilled to date. The data obtained from drilling these three wells has confirmed the shale formation thickness and the presence of natural gas. \"With North Sea gas reserves declining and the UK becoming more dependent on imported gas supplies, it is important that we look for opportunities to develop domestic gas resources, to provide affordable sources of gas to our customers, and to deliver broader economic benefits to the UK,\" said Mark Hanafin, managing director of Centrica\'s international upstream business. \"The government\'s clear commitment to developing the UK\'s shale gas industry is creating the right environment for companies to invest and to deliver those benefits. \"This transaction presents an attractive opportunity for Centrica to explore the potential and commercial viability of natural gas from shale in the UK, while utilising its expertise as a responsible operator and developer of UK gas resources.\" Initial data suggested that there could be 200 trillion cubic feet of gas within the Bowland licence area, but said more drilling was required to establish whether the discovery is commercially recoverable, according to Centrica. Canada and the United States have produced large quantities of shale gas and oil, transforming their energy sectors. However, no shale gas has yet been produced in Britain.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today centrica buys stake in british shale gas licence Arab Today, arab today centrica buys stake in british shale gas licence

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today centrica buys stake in british shale gas licence Arab Today, arab today centrica buys stake in british shale gas licence

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday