Centrica to Invest Millions of Pounds in Fracking

Centrica SignHow should the UK go about getting energy? Most people tend to think that renewable energy is the way to go. After all, the UK is working hard at lowering its carbon footprint. The only problem is the fact that there is not enough investment in renewable energy to fix this problem quick enough. The UK might be looking at a blackout before renewable energy is strong enough to support the nation. So what should the country do? Well, according to Centrica, it should invest in fracking. Centrica believes in this so much, that it is now leading by example.

As the biggest energy supplier in all of the UK, Centrica is investing millions of pounds into the UK’s leading fracking company, Cuadrilla Resources. These two groups are in advanced talks to buy Bowland Shale in Lancashire. Centrica is expected to invest at least tens of millions of pounds into the company within just the next few weeks.

The goal here is for Centrica to endorse shale gas. Centrica believes that shale has the potential right now to help Britain meet its own energy needs. If this is the case, the country can save tons of money by not having to import its energy from other countries, like the United States. That being said, it could still take a while for the UK to finally get enough energy to support itself, even if it relies on fracking.

Due to this new investment, it seems that the UK is heading down the road to shale gas. That is because Centrica is not the only energy company investing in fracking. In fact, this announcement from Centrica comes just a few days after IGas Energy increased its estimate as to how much shale gas was in its reserves. IGas Energy said that its shale gas reverses now might have close to 172 trillion cubic feet of shale gas. If this is the case, this will be enough gas to meet the UK’s gas demand for the next five years.

That being said, fracking is still a very controversial process. It is the process of forcing water and chemicals into the ground at high pressure in order to break shale rocks. Some are worried that doing this might hurt ground water or even cause earthquakes. Although it has been given the go ahead in the United States, the UK is still unsure about it.

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