Scotland began a consultation on whether to allow unconventional oil and gas extraction such as fracking, its government said on Jan. 31, with a vote expected at the end of 2017.
Substantial amounts of shale gas are estimated to be trapped in underground rocks, and the British government wants to exploit it to help offset declining North Sea oil and gas output.
However, hydraulic fracturing, which involves extracting gas obtained from rocks fractured at high pressure, has faced opposition from environmentalists and local campaigners and was banned in Scotland in January 2015 while the government there gathered information on its potential impacts.
"The Scottish government has a very important decision to make in determining the future of unconventional oil and gas," Paul Wheelhouse, Scotland's minister for business, innovation and energy, said in the consultation document.
"The consultation does not set out or advocate a preferred Scottish government position or policy. Instead, we want to create space for dialogue and allow different perspectives to come forward," he said.
The consultation is open to members of the public as well as industry.
Resources in central Scotland are estimated to hold at least 49.4 trillion cubic feet (Tcf) of shale gas, the consultation said, with about 2% of this likely to be commercially viable for production.
Annual gas consumption in Scotland is about 150 Bcf per year, with about 78% of homes using gas as their primary heating fuel, the consultation said.
Recommended Reading
Thanks to New Technologies Group, CNX Records 16th Consecutive Quarter of FCF
2024-01-26 - Despite exiting Adams Fork Project, CNX Resources expects 2024 to yield even greater cash flow.
Cheniere Energy Declares Quarterly Cash Dividend, Distribution
2024-01-26 - Cheniere’s quarterly cash dividend is payable on Feb. 23 to shareholders of record by Feb. 6.
Marathon Petroleum Sets 2024 Capex at $1.25 Billion
2024-01-30 - Marathon Petroleum Corp. eyes standalone capex at $1.25 billion in 2024, down 10% compared to $1.4 billion in 2023 as it focuses on cost reduction and margin enhancement projects.
Humble Midstream II, Quantum Capital Form Partnership for Infrastructure Projects
2024-01-30 - Humble Midstream II Partners and Quantum Capital Group’s partnership will promote a focus on energy transition infrastructure.
Hess Corp. Boosts Bakken Output, Drilling Ahead of Chevron Merger
2024-01-31 - Hess Corp. increased its drilling activity and output from the Bakken play of North Dakota during the fourth quarter, the E&P reported in its latest earnings.