Industry group UK Onshore Oil and Gas on Monday published updated forecasts for the county’s shale gas potential
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.
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. British chemical manufacturer Ineos, which has the largest shale gas licence acreage in Britain, has called the current rules unworkable.A 2017 study by the department for business, energy and industrial strategy concluded that through imports Britain would have secure supplies of gas up until 2037 even if no shale reserves were exploited.
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