Reuters: Hot Stocks: TABLE-Estimates of British shale gas production by 2020s

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

TABLE-Estimates of British shale gas production by 2020s Jul 19th 2013, 12:01 Tweet Share this Email Print Fri Jul 19, 2013 8:01am EDT LONDON, July 19 (Reuters) - Energy experts say it is difficult to estimate how much shale gas could be developed commercially in Britain, and their estimates differ widely for the next decade. The British government unveiled tax breaks on Friday to drive investment in shale gas production. Britain, one of Europe's largest gas consumers, hopes to follow the United States by exploiting shale gas to cut its reliance on imports, which have surpassed domestic North Sea production and are set to increase further unless new sources are found. Reuters calculations show that if 8-10 billion cubic metres a year (bcm/yr) of shale gas production is achieved by the mid-2020s, it would account for around 10 percent of expected gas demand and be worth $3-4 billion based on average spot gas prices in Britain. To be completely non-dependent on gas imports, however, Britain would have to produce 80 bcm/yr in 2020-2030, said John Williams, senior principal at Poyry Management Consulting. Below follows a table outlining some estimates in bcm/yr. COMPANY/ANALYST ESTIMATE TIMELINE National Grid Total unconventional gas 2022-2029 sources, including shale, could produce 2-4 bcm/yr Oxford Institute 8 bcm/yr (requiring 300 new after 10 years for Energy Studies shale wells a year) Poyry 12 bcm/yr 2021 perhaps 20-35 bcm/yr by 2035 (Reporting by Nina Chestney; editing by Jane Baird) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions