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Fracking could cut Britain's gas imports to zero by early 2030s - Report

Gasoil News - Published on Thu, 14 Mar 2019

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Reuters quoted an industry group as saying that Fracking Britain's shale gas reserves could cut the country's imports of gas to zero by the early 2030s. Britain currently imports more than half of its gas via pipelines from continental Europe and Norway and through shipments of liquefied natural gas from countries such as Russia, the United States and Qatar. Industry group United Kingdom Onshore Oil and Gas on Monday published updated forecasts for the county's shale gas potential in the wake of recent data from Cuadrilla's sites. The forecasts for well productivity were increased by 72% to 5.5 billion cubic feet per lateral well, compared with estimates made in 2013 by Britain's Institute of Directors.

The industry association report said that one hundred fracking well pad sites, each with 40 lateral wells could produce almost 1,400 bcf a year by the early 2030s, equivalent to the gas use of 35 million homes. This would be more than the country needs as it has around 27 million households. But fracking companies say the industry is unlikely to take off in Britain under current regulations, which halt fracking activity if a seismic event of magnitude 0.5 or above is detected.

Currently, Cuadrilla, the only company to have fracked for gas in Britain, had to halt operations several times last year due to seismic events which exceeded the limit.

Environmental groups strongly oppose the practice of hydraulic fracturing, or fracking, which involves extracting gas from rocks by breaking them up with water and chemicals at high pressure. But the British government, keen to cut Britain's reliance on imports as North Sea gas supplies dry up, last year gave Cuadrilla permission to frack two wells at its Preston New Road site in Lancashire.

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Posted By : Rabi Wangkhem on Thu, 14 Mar 2019
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