Shell gives UK shale gas the cold shoulder

Although the UK government seems to be quite optimistic as far as the revenues following future shale gas exploration are concerned, things are quite different as far companies willing to actually invest in this field are concerned, with energy giant Shell actually revealing the fact that it doesn’t plan to tackle the UK in the near future.

According to a news report, Simon Henry, Shell’s chief financial officer, said it had already allocated more than $6bn (£3.8bn) to shale globally and was not going to exceed that sum.

We are not going to just throw more strategic capital allocation into the business because the UK, or any other country for that matter, feels it’s a good thing. If and when the UK reaches the same level of potential attractiveness, we’ll give it a thought,” said Mr. Henry.

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