Chris Faulkner, CEO, Breightling Energy is attending attends the Shale World UK conference and exhibition. Even with the current fall in oil and gas prices, faulkner contends that shale exploration will still be viable in the UK.
“Shale oil gas will take some time to bring online,” he told the conference and media in England. “But this is a long-term investment, and prices will always fluctuate up and down. What’s key is the UK can gain independence from foreign gas by developing this massive resource under its own soil.”
“The North Sea is suffering because of the current drop in oil prices,” said Faulkner. “It is a mature field, and as such is very expensive to extract, thus making it more vulnerable to these price changes. Shale is relatively cheap in comparison, and could produce equivalent volumes over a similar period going forward. It is an opportunity the UK should not miss.”
Chris Faulkner also feels that the two biggest obstacles to shale in the UK are the complex planning regulations and public opposition. Opponents base their argument on unfounded safety fears, which been proven untrue by US production and confirmed by the highly respected 2014 University of Manchester study claiming fracking can be done safely domestically. Drilling restrictions in the UK are more stringent than the US, pointing to even stronger safety precautions here.
Energy security and shale development have not become issues in the current General Election campaign, mostly because of milder temperatures this winter. Last fall, with Russia jawboning to reduce gas flowing through the Ukraine, a cold winter could have led to shortages, and energy independence would certainly have propelled up the political agenda. “The UK is at the end of a very long pipeline and only has two weeks of storage capacity if anything goes wrong,” Faulkner explained.
For media interviews and more on the conference, please contact:
Michael Hardware, Chelgate PR in London on 020 7939 7989 or 07775 925 274 or firstname.lastname@example.org For more about Breightling visit: www.BreightlingEnergy.com.
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