UK Rejects Another Shales Gas Project

British officials on Monday rejected another Cuadrilla Resources shale gas project in northwest England on the grounds of visual and noise impact, just four days after refusing a different shale gas planning application.

Cuadrilla’s project at Preston New Road near Blackpool could have become one of Britain’s first shale gas production sites, but the permit refusals demonstrate strong local opposition to unconventional gas production.

Britain is estimated to have substantial amounts of shale gas trapped in underground rocks and the national government has been supportive of developing these reserves to counter declining North Sea oil and gas output.

However, progress has been slow because of local opposition to hydraulic fracturing — or fracking — due to environmental and health concerns.

via SOURCE

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.