Centrica and Arup enter UK shale market

摘要

Centrica has bought a 25% stake in shale gas firm Cuadrilla's licence to explore the Bowland Shale in Lancashire. This is the first time a major energy firm has entered the UK shale gas market. Centrica announced on 13 June that it had paid £40m for the stake and committed to spend £60m on exploration. It will spend another £60m if milestones are met. Cuadrilla estimates the Bowland Shale contains about 200 trillion cubic feet of gas, enough to meet UK demand for 67 years. But only a fraction will be economically recoverable.