Grid says UK shale gas could meet a third of demand by 2030s

By Susanna Twidale LONDON (Reuters) - A third of Britain's gas needs could come from its own shale gas by the early 2030s if government policies and economic growth allow firms to invest in gas exploration, National Grid said on Thursday. Britain is betting on the development of shale gas to help curb its growing dependence on imports and to stem a decline in oil and gas tax receipts as output from the mature North Sea basin dwindles. Some of the companies active in Britain's shale market are IGas, Egdon Resources and Cuadrilla. Under a 'Gone Green' scenario, with a strong economy and tougher environmental regulations British shale production could be 14.2 billion cubic metres (bcm) by 2030 and under a 'Slow Progression' Scenario, with a weak economy, shale gas production could be just under 5.7 bcm National Grid said. Read More http://ift.tt/1n90dJ3