The UK has vast shale-gas reserves that could cause domestic and European natural gas prices to tumble, according to author of a new report, due for release in the next few months.
Gordon Pickering, director of Navigant Consulting, told Petroleum Economist that the company had been commissioned by the UK’s Department of Energy and Climate Change (DECC) to assess the country’s shale-gas resource potential.
Pickering declined to state the exact figure the consultancy had given DECC in the report, but said the government was reviewing it and the results would be released within the next few months.
”This is potentially a very significant resource in the UK. Compared to other countries in Europe there is a better chance of things moving forward in unconventional gas,” Pickering said. “It’s very promising and I’m very excited about the resources in the UK.”