Cuadrilla welcomes the Chancellor’s plans to consult on tax breaks for shale gas exploration

“We welcome the government’s initiative to help the emerging shale gas industry get established,” said Francis Egan, Cuadrilla’s CEO.

Cuadrilla is seeking approval to drill, fracture and flow test a small number of wells in 2013. “Exploration is necessary to have a better understanding about how shale gas can be developed safely and sensibly from the Bowland Basin,” said Egan. “Costs in a technology industry such as ours will be higher at the outset, but will reduce over time as the industry grows.”

The company also supports the establishment of an Office for Unconventional Gas & Oil.

“In the UK, our activities fully comply with one of the world’s tightest regulatory systems for oil and gas,” Francis Egan said. “We welcome any initiative that streamlines decision-making processes while ensuring that all shale gas extraction conforms to the highest environmental and health and safety standards.”

 

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