Britain could benefit from £33bn shale gas investment

Shale gas drilling
Source: DollarPhotoClub

A report published by UK Onshore Operators Group has claimed that the creation of a new industrial supply chain for the shale gas industry could generate as much £33bn of investment – a lot of it in the much-needed North of the country.

The report further predicted that:

  • Approximately 64,000 new jobs will be generated over an 18-year period during which an estimated 4,000 horizontal shale gas wells will need to be drilled.
  • Shale gas exploration activities will require 50 new land–based drilling rigs to be erected along with 8,000 miles of steel casing.
  • Other services, such a transportation and logistics will require £4.1bn investment to meet the industry demand.

Deirdre Fox, Tata Steel’s director of strategic business development in the UK, said the report was an “eyeopener as to how big an opportunity the responsible development of a shale gas industry is for the UK economy”.

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