United Kingdom

Details

  • Industry: Oil and Gas
  • Type: Press release
  • Date: 28/06/2013

Shale Gas: Likelihood of large scale developments remains uncertain, says KPMG 

 

Emma Wild, Head of KPMG’s Upstream Advisory practice comments on this week’s announcement that the UK shale gas resources may be greater than previously thought:

 

“While the estimated increase in shale gas reserves published by the Geological Society is certainly encouraging news, it is important to remember that this refers to technically recoverable volumes and not to commercially recoverable gas from shale.

 

“Additional clarity around regulation is expected in July. This may well help to streamline the process for operations in the UK and will undoubtedly be welcome by all key industry players.

 

“Additionally the commitment of the industry trade body UKOOG, to engage with and compensate local communities, should go some way to increase activity levels in the UK.

 

“What has not been addressed in today’s statement is the high cost of operating in the UK, the availability of alternative sources of gas supply for UK power and how these factors contribute to shale gas commerciality.  Therefore the likelihood of large scale developments remains uncertain.” 

 

 

-ends-

 

 

For further information please contact:

 

KPMG Press office

Tel:  +44 (0) 207 694 8773

 

Katrin Boettger, KPMG Corporate Communications

Mobile: 0782 4475168

Katrin.boettger@kpmg.co.uk

 

About KPMG:

 

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff.  The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  KPMG International provides no client services.

 

 

Share this

Share this