The French company trumpeted becoming the “first major to enter into shale gas licences in the UK”, calling it an “important milestone”. But its stance contrasts starkly to that of Shell, whose British chief financial officer Simon Henry said last year it had no desire to be “first in and be in the headlines every day in the UK”. Shell had “much higher priorities, and more attractive opportunities” elsewhere and would not throw money into shale…
US majors next most likely to invest while BP and Shell expected to steer clear in the short term at least
By Emily Gosden: 9:07PM GMT 13 Jan 2014
More international oil and gas majors may follow Total’s lead in joining the search for British shale gas – but BP and Royal Dutch Shell will not be among them, experts have predicted.
The French energy giant on Monday confirmed it would invest $48.1m (£29.3m) in the search for shale gas in the East Midlands, taking a 40pc stake in two licences held jointly by IGas, eCORP, Egdon Resources and Dart Energy
The move was hailed as the biggest vote of confidence yet in the potential of UK shale, following investments by GDF Suez and Centrica – two smaller but still heavyweight companies. read more
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