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    Scotland’s shale may supply 30 years of UK gas needs

    Scotland could hold enough shale gas resources to cover UK gas needs for more than 30 years, according to a geological report published by the British government, and reported by Reuters. But Scotland's roughly 80 trillion cubic meters of gas is only around 6% of Britain's potential, with the rest mainly in the Bowland shale region across northern England.

    The British Geological Survey report noted that the Midland Valley area of Scotland also holds around 6 billion barrels of shale oil.

    Reuters said that reports show that Britain has around 1,409 trillion cubic feet of shale gas and 10.4 billion tonnes of shale oil in place. None of Britain's shale gas explorers have yet undertaken any hydraulic fracturing, or fracking, whereby shale gas is extracted from deep rock formations by breaking it using water, sand and chemicals.

    The shale gas industry is gearing up for Britain's first onshore oil and gas licensing round in six years that will allow companies to bid for permits in shale oil and gas areas. Some of the companies active in Britain's shale market are IGas, Egdon Resources, and Cuadrilla.

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