UK’s shale gas resources might be huge, IGas claims
The debate regarding the future of shale gas exploration is far from over, and now, one of the companies actively involved in drilling and exploration activities, IGas, claims that UK’s gas reserves might actually be large enough to last for decades.
According to a news report on this matter, the area licensed to IGas for exploration, set across 300 sq miles in Cheshire, northern England, might actually hold up to 170 trillion cubic feet of gas.
Although the company’s initial estimates for this areas were set in the vicinity of nine trillion cubic feet of shale gas, IGas now estimates that the volume of “gas initially in place” could range from 15.1 trillion cubic feet to 172.3 trillion cubic feet – nearly 20 times more.
And given the fact that the UK’s annual gas consumption is currently about 3 trillion cubic feet, “our estimates for our area alone could mean that the UK would not have to import gas for a period of 10 to 15 years”, IGas chief executive Andrew Austin declared. Furthermore, Mr. Austin added that shale gas exploration might also lead to the creation of up to 40,000 jobs in the area, which would really be an important boost for an otherwise economically-deprived region.
On the other hand, it’s still not quite clear just how shale gas exploration will affect the actual gas prices and bills, and for this reason, it’s always a very good idea to start investing in a solution that will make an immediate and visible difference in terms of energy bills, namely HeatingSave.
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