Latest News: 29th November, 2012
Cuadrilla welcomes the publication of the Energy Bill which provides a clearer framework for the UK’s energy future, including the role of natural gas as a key part of the energy mix.
“There is no faster route to controlling escalating energy bills and improving the UK’s competitiveness than developing and producing our own home grown supplies of natural gas,” said Francis Egan, Cuadrilla’s CEO. “Right now we are importing most of the gas we use in the UK. Professionally managed and properly regulated, natural gas from UK shale is safe, plentiful, creates jobs, generates tax revenues and helps maintain our balance of payments.”
Cuadrilla points to a growing gas import dependency. Imports are forecast to rise to around 80% in 2030, according to leading engineering firm, Pöyry Consulting.
Mr Egan said: “It is clear that the US has become more competitive globally and reduced its CO2 emissions significantly because of shale gas. So will China. The UK has plenty of shale gas resources, but we need to move faster to develop it safely and sensibly. It is also important to remember that gas and renewable energy can and must co-exist. We will need both in the UK energy mix for many decades to come.”