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NEARLY £9M FLOWS INTO LANCASHIRE’S ECONOMY FROM CUADRILLA’S SHALE GAS EXPLORATION

Cuadrilla has today (30 April) issued its latest “Putting Lancashire First” commitments tracker to include figures up to 31st March 2018. The latest report reveals that during the first quarter of 2018 spend in the Lancashire economy by Cuadrilla and its suppliers now stands at some £8.6 million.

During the first three months of this year, in which Cuadrilla completed drilling the first horizontal shale gas well in the UK, the company has also seen a growth in interest from the local supply chain, with over 700 companies now registered on the Supply Chain Portal which is hosted by the county’s two Chambers of Commerce. The latest tracker reveals that indirect spend, the amount of money Cuadrilla’s suppliers have sub contracted to other suppliers based in Lancashire specifically linked to their own work for Cuadrilla, has now risen to over £1 million.

Francis Egan, CEO of Cuadrilla, said:

“Having completed drilling the first horizontal well into UK shale, and currently finishing the second, we are delighted that our important exploratory work at Preston New Road has benefited the local economy by nearly £9 million to date.

“We are also very encouraged to see even more businesses in the county registering to work with Cuadrilla via the Supply Chain Portal, especially as working with Lancashire suppliers remains a key priority and commitment for us, and that our suppliers have in turn generated over £1 million of revenue for other Lancashire companies.”

Businesses interested in future opportunities should register on the Lancashire shale gas supply chain portal visit www.shalegaslancashire.co.uk.

In December 2016 CEO Francis Egan signed six public commitments to the county of Lancashire to commit Cuadrilla to putting Lancashire first in terms of creating jobs, investment, new skills and community initiatives as a result of shale gas exploration and, if exploration is successful, shale gas production in Lancashire. The tracker figures have been independently verified by Danbro Accounting Ltd. The next tracker will be released in July 2018 with figures to 30 June 2018.

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