Peel Group sees UK shale as “golden opportunity”

Liverpool Docks and The Liver Buildiing
Source: DollarPhotoClub

The Peel Group – a private real estate, media, transport and infrastructure investment company in the UK – has decided to jump on the shale bandwagon by announcing the launch of its Oil & Gas business.

Peel Gas & Oil will work along with shale exploration companies in the UK as a development partner, providing property solutions for the industry. The company has extensive skills and assets in land, infrastructure, utilities, transport and planning, which it will draw upon in its attempt to establish shale industry in the UK. Its other subdivisions – like Ports and Logistics which includes the Port of Liverpool – will also serve as an aid to investment in the shale-related infrastructure in the North West.

The company has already announced its cooperation with IGas on a number of sites in the region and expects to announce further partnerships in the coming months.

Myles Kitcher, Peel Gas & Oil managing director, told The Liverpool Echo: “The emerging onshore shale gas sector is a golden opportunity for the UK and the North in particular.

“There is a growing momentum in this region, with the Government announcing the new National College for Onshore Oil and Gas, based in Blackpool and linked to the University of Chester.

“We are ideally placed to become a regional hub for the industry drawing on existing assets, such as the Manchester Ship Canal and thriving ports, and the wealth of expertise businesses in the area have to offer.

“This could help transform the regional economy, unlocking a projected £10bn investment and over 3,500 jobs in the development of shale gas resources in the North West region alone.

“We need to act quickly to get a thriving supply chain in place, ready to benefit from the emerging industry.”

Mark Whitworth, Peel Ports chief executive, added: “The development of the UK shale gas industry offers huge potential but will require a new approach to supply chain management.

“Capital commitment and investment in specialist equipment, infrastructure and skills is being made by Peel Ports at an early stage to ensure that we are industry–ready and taking a leadership position in preparation for the significant opportunities arising from shale gas production in the UK.

“It is important that the North West responds to the potential of this industry in order not to lose out to other countries who are already involved in this sector.”

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