Shale Gas will not make the UK self-sufficient in energy, according to a research by UK Energy Research Centre (UKERC).
The report, titled ‘The UK’s Global Gas Challenge’, stated that any talk of shale gas making the UK self-sufficient again, let alone allowing significant exports, is far-fetched.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Prospects of a shale gas revolution in the UK can be one solution to meet domestic supply concerns, it informed. The research also stated that the UK needs to focus on alternative low-carbon energy sources and invest in more gas storage to avoid short-term supply disruption and price inflation.
The industry’s unwillingness to invest in additional storage is because of the high level of uncertainty with regard to future gas demand in the UK. Researchers claimed industry and politicians have ‘overhyped’ the impact shale gas will have on energy prices and security.
Over the next decade, shale gas is unlikely to turn into a primary energy source and the UK will almost certainly not follow the US, where shale gas has led to energy self-sufficiency.
Implementation of shale gas drilling in the UK is expected to consume significant time, which in turn, will not let it be the ‘quick fix’ as publicised, reports RT.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe Guardian quoted University of Sussex professor of energy policy and author of the report Jim Watson as saying: "Looking at the evidence base, it’s very hard to support some of the statements made both by industry and some politicians that it’s going to bring down prices, strengthen energy security or create jobs through cheaper energy any time soon.
"It may have an impact. But a lot depends on how fast shale develops."
.gif)
