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Running out of superlatives up here in Blackpool. Cuadrilla revealed 200 TCF gas in place today. How big a number is that? Assume a conservative 20% recovery rate and this find is as big as the North Sea Troll super giant field. That’s about 15 years of total UK demand. Or replacing ALL LNG imports for 40 years! There will be other challenges, but running out of gas will not be one of them. Cuadrilla also released figures showing the potential for £5 to 6 billion in tax revenues over 30 years. Interesting is Cuadrilla’s estimate of production in 2013. Much more on the news tonight and the front page tomorrow.

No Hot Air, 21 September 2011