Shale Revolution Set To Provide Over A Third Of The UK’s Energy Needs

  • Date: 24/04/14
  • Suzie Neuwirth, City A.M.

Over one third of the UK’s energy will come from shale gas in the next decade, with 4,000 wells set to be drilled across the country by 2032, a new report claims today.

An astonishing 20m homes could be powered by shale gas, according to the government-backed study commissioned by the UK Onshore Operators Group and undertaken by EY.

The UK’s burgeoning shale gas industry will attract £33bn of investment across the supply chain and create 64,000 jobs, the report says, with 50 drilling rigs needed to accommodate the soaring growth.

 

Energy minister Michael Fallon said the report should be “a call to action” for UK companies in the chemical, manufacturing and service industries.

“The message is to get ready for shale,” he said.

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