After two days of hearings, the county government voted 7-4 in favour of the project. UK private hydrocarbons company Third Energy will begin to test the capacity and flow of gas on the sandstone shale formation. The deal isn’t expected to move forward quickly, as operations will need to be approved by the planning authority and the Environment Agency.
“This approval, is not as a victory, but is a huge responsibility,” stated Rasik Valand, chief executive of Third Energy. “We will have to deliver on our commitment, made to the committee and to the people of Ryedale, to undertake this operation safely and without impacting on the local environment.”
UK is one of the only countries in Europe that allows fracking, although not many local governments have gone so far as to approve any proposals. According to the US Energy Information Administration, the country has an estimated 736 bcm (26 tcf) of shale gas reserves.
The last fracking for shale gas was done by UK’s Cuadrilla Resources, but operations were halted by the government after causing earthquakes nearby. The company continues to press the government to pass permits with the intention of hitting first gas in 2017.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.