The UK May Have Just Stumbled Upon Enough Shale Gas To Power The Country For 60 Years

Rob Wile | Jun. 4, 2013, 9:52 AM | 347 | British gas producer iGas PLC has completed a study claiming there's enough natural gas in northwest England to power the UK for about 60 years.

The story was first reported by the FT's Guy Chazan. 

Of course, it's just a single corporation making this estimate, so we should take it with a grain of salt.

iGas studied a 300 square mile area near Liverpool and found the shale deposits contained up to 170 trillion cubic feet of natgas. The UK currently consumes 3.3 tcf annually, according to the EIA.

The "most likely" scenario from the study is that the deposits contain 120 tcf, while the lowest estimate stood at 15.1 tcf.

iGas hopes to begin drilling in the area by Q4 this year. At the same time, there's been growing opposition in the UK to fracking, a common form of extracting gas from shale. 

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