LONDON (Reuters) - Britain will introduce a generous field allowance for shale gas developments to tap new resources of low-cost energy, Chancellor George Osborne said on Wednesday.
“Shale gas is part of the future and we will make it happen,” he said whilst delivering his 2013 budget in parliament.
By the summer, the government will also publish guidelines that lay out how local communities will benefit from their unconventional gas resources, he said.
Britain, Europe’s largest gas consuming nation, lifted a ban on shale gas fracking in December and is counting on huge shale gas reserves to make a significant contribution to its stagnating economy.
Reporting by Karolin Schaps; Editing by Alison Birrane